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Retail bankingSeptember 14 2023

Forget cashless – cash is the only payment system that works

Despite a significant uptick in digital payment methods, cash stubbornly refuses to die and is unlikely to disappear in the foreseeable future.
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Forget cashless – cash is the only payment system that works

There has been a lot of news about cash over the past few months. The European Central Bank (ECB), for example, has been canvassing the bloc’s citizens on the proposed themes for the next series of euro banknotes (expected to be rolled out in 2028). Additionally, many have been discussing life with cash, particularly in the UK where banks will face fines if they breach rules on access to cash.

But is cash still relevant? Do we need new banknotes?

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