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October 2020

Europe Plans for a New Payment Future

The ECB is reacting to three emerging trends. Firstly, evidence of a steady reduction in the demand for cash for all types of payment, but particularly at the point of sale and for person to person payments, which the reaction to the pandemic has reduced further.

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September 2020

Missing £50 Billion, and No New Coins for 10 Years

In September the UK’s National Audit Office (NAO) – who scrutinise public spending for Parliament – published a report on the ‘Production and Distribution of Cash in the UK’, examining the role played by the public bodies in operating and overseeing the cash system.

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August 2020

Payment Fraud Predicted to Dramatically Accelerate

Based on data gathered in a broad range of countries between 2014-18, it provides an interesting and comprehensive classification of payment fraud alternatives, and also offers an estimation of the value of fraud with different cash and card payment options, as well as delving into the increasingly popular options of contactless and cryptocurrency.

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July 2020

Cash, Legal Tender and the Future of Euro Banknotes

It was mid-June and Luxembourg was just emerging from a three-month lockdown to halt the spread of Covid-19. Sat three seats apart, an audience of a dozen gathered in the European Court of Justice’s (ECJ) Grand Chamber to hear the oral arguments of a legal case with potential major implications for the future of cash.

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June 2020

The Dark Side of Prepaid Cards

In an unusually themed analysis, S&P Global investigate the extent to which prepaid and gift cards are used in the black economy, with some alarming figures and examples showing how easily these payment methods are used to finance criminal activity.

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May 2020

United in Protecting Consumer Right to Use Cash

In the US, a group of businesses and consumer groups have come together to form the Consumer Choice in Payment Coalition (CCPC). The aim of the new coalition is to advocate for consumer choice and for preserving the right of American consumers to use cash to pay for goods and services in the marketplace.

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April 2020

What Have We Learnt from COVID-19?

In the last issue of CPN we deliberated on the likely developments this pandemic will cause to the payments industry, such as the concerns over safety of cash handling, a rapid shift towards digital consumer payments and the acceleration of the Central Bank Digital Currency (CBDC) efforts. A month later, some clear patterns are emerging that will have long lasting consequences for us all and have the potential to change the world of payments forever.

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March 2020

COVID-19: Implications for Payments

The news in the last few weeks has been dominated by the developing situation with the coronavirus, COVID-19. While governments and the experts are trying to deal with the pandemic and mitigate against its fall-out, there are already notable changes in our behaviour that are undeniably affecting the payments landscape. The evidence at the moment is largely subjective and it will take time to find out what, if any, of these changes are going to have a lasting effect.

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February 2020

Davos 2020 on Digital Currencies

The annual World Economic Forum (WEF) in Switzerland brings together the political and financial elite, policy makers and an occasional social activist to discuss the global economic, political and social issues of the day. Whether seen as a platform for constructive dialogue on the issues concerning the entire world or an exclusive club for the rich and famous, WEF invariably includes in its agenda the most critical issues facing the global economy and business world. This year, the future of digital money was one of the key topics discussed.

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January 2020

Top Trends in Cash and Payments: Past Decade

Looking back at the last ten years reveals more changes and innovations in the way we pay, handle cash and make purchases than the previous several decades combined. The advent of credit cards in the mid-20th century, the invention of the ATM in the 1960s and the development of modern banknote sorting machines in the 1980s are perhaps the only notable events preceding the last decade, and one may be forgiven for gaining the impression that the currency and payments industry was conservative, traditional and slow-moving. The past ten years have clearly proved the opposite.

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