The 2025 Australian Consumer Payments Survey shows that cash use has stabilised in recent years.

Hot on the heels of the Global Currency Forum come three more conferences.

Franklin Noll of the Federal Reserve Bank of Kansas City has looked at where stablecoins are held and how they are used in the financial ecosystem in a Payments System Research Briefing.

Norges Bank has now published four reports that led it to conclude in December 2025 that introducing a CBDC was currently not warranted.

Reuters reports the Reserve Bank of India (RBI) is considering new controls for high-value transactions due to a rise in digital frauds.

OMFIF, an independent think tank for central banking, economic policy and public investment, has argued that cash plays a systemic role that no digital payment instrument, no matter how sophisticated, can replicate.

This article was first published in February’s edition of Coin & Mint News™. The issue of estimated coin life has been a subject of speculation for a long time. There are limited data and systematic studies about the life of coins. Publicly available information from world mints suggests that coins could remain in circulation for at least 25 or 30 years. There are other sources suggesting that coins could last in circulation much longer and their lifetime could even exceed 50 years.

The Swiss National Bank (SNB) runs a number of annual surveys to understand payment trends over time and what is happening now. The latest is the 2025 survey of payment methods of 2,000 private individuals, consisting of a questionnaire and the keeping of a payment diary for a seven day period.

As geopolitical storms reshape global finance, cash is evolving into a strategic tool for sovereignty, resilience, and trust in an era of fragmentation and digital vulnerability.

John Kiff, who writes as Kiffmeister, has written a series of papers considering the future of retail Central Bank Digital Currencies (CBDC). He started by analysing the CBDCTracker.org database to see what has been happening to CBDC over time. His first findings were that projects are not leading to launches. Some projects have been put on the backburner and some cancelled, never getting out of the research or proof-of-concept phases. Many central banks have refocused to wholesale CBDC-backed tokenised deposits.

Franklin Noll of the Federal Reserve Bank of Kansas City has looked at where stablecoins are held and how they are used in the financial ecosystem in a Payments System Research Briefing.

A recent article in the Jamaica Observer focuses on Jamaica’s central bank digital currency (CBDC), known as Jam-Dex . Unusually not only does the article argue for increased usage of the CBDC, but it gives detailed suggestions for how to do this.

73.4% of voters endorsed a government proposal to guarantee the right to use cash, require the Swiss National Bank to maintain adequate supplies of notes and coins, and stipulate a nationwide vote to replace the Swiss franc with another currency.

On 12 March the first Global Cash Day reached LinkedIn, and perhaps beyond, initiated by the Cash Alliance and picked up by many players in the cash ‘industry’. This article steps back to consider how we develop it to reach further to a much wider audience.

On its 50th anniversary, the foreign exchange company Travelex has published its first Travel Money Insights Report. The good news is the headline that 69% of travellers still choose cash.

Guillaume Lepecq, Chair of Cash Essentials, and Matt Sykes, from the CPT Group, have written a paper about the business model of Automated Teller Machines (ATMs). Their conclusion? Circumstances have changed, and ATM business models need rethinking.

Technological innovation is advancing at a pace that is transforming how societies pay, transact, and interact. Changes that once unfolded over decades now occur within years, fundamentally redefining the role and nature of money. As reflected in our new white paper ‘Currency Fast Forward – Future Developments of the Currency Cycle’ (click here), one insight stands above all: the future of money will not be determined by a choice between physical and digital forms, but by their ability to coexist and reinforce one another. Across all regions, whether they rely heavily on cash, have advanced digital payment systems, or face the cash paradox of declining usage yet rising circulation, public money remains essential. It continues to serve as an anchor of trust, inclusion, and resilience.

Jeremy Light has published a useful summary of UK payments fraud. While every country will be different, it is interesting to see what criminals are doing and the payment risk involved.

In 2023 in Canada digital payments accounted for 87% of total payment volume. Their uptake is only likely to rise as new ways of payment are invented. On top of open banking, faster payments, variable recurring payments, digital tokens, blockchain-based infrastructure etc. we can already see use cases build around programmability, possibly machine-to-machine payments driven by Artificial Intelligence (AI) and more.

The European Payment Initiative and the Digital Euro aim to gain European payment independence from the US payment giants.

The US Senate has voted 89 to 10 to ban the Federal Reserve from issuing CBDCs until after 2030 as part of a bipartisan housing bill. The bill now moves to the House of Representatives.

This year’s High Security Printing (HSP) conference for the Europe, Middle East and African region was the first ever in its 22 year history to be held in the latter region, and the biggest ever – with 341 delegates, 146 organisations and 49 countries attending.

Here we look at two revolutions going on in payments. The first, QR codes, is well underway. The second, Variable Recurring Payments, is getting going. Both build on the modern payment infrastructure of open banking, real time payments and wallets.

A two part IMF blog by Biagio Bossone and Massimo Costa seeks to reframe how central bank money, banknotes, reserves, and CBDCs are regarded, moving them from being seen as a debt to equity for the issuer and as custodial assets for the holders.

Perhaps it should be no surprise that the chairman of New Zealand’s (NZ) Ministerial Advisory Group on Transnational, Serious & Organised Crime should say on a podcast that ‘Cash is the primary currency of organised crime. And so a huge amount of our cash right now, as we sit here, is in the hands of organised crime’.

A paper titled ‘Cash Demand and Demographic Changes in Japan’ by Hiroshi Fujiki of Chuo University, published recently by the Hitotsubashi Institute for Advanced Study, considers the impact of Japan’s rapidly ageing population and the increase of digital payments.

A new paper from the Federal Reserve Bank of Atlanta seeks to understand whether, how and to what extent merchants in the US influence consumers’ payment choices1. Using the 2024 Survey and Diary of Consumer Payment Choice, which recorded stated preferred payment methods and then actual choices at the point-of-sale (POS), the authors analysed why consumers sometimes deviate from their preferred option.

Last year the Banque de France (BdF) published a report on cash usage in France.

UK banks have announced plans to create a domestic alternative to Visa and Mastercard, aiming to reduce dependence on US payment networks and enhance financial resilience. This initiative is part of a broader global trend toward monetary sovereignty, accelerated by the election of Donald Trump and geopolitical tensions. The future of payments is expected to be hybrid, with cash playing a crucial role alongside digital innovations.

MyCarbon, a climate consultancy that has previously presented at Cash Sustainability Forums, has developed a structured, online training programme in carbon accounting. The course teaches methodologies fully aligned with the leading international frameworks, including the GHG Protocol, ISO 14064 (Parts 1–3), ISO 14067 (product carbon footprints), ISO 14068 (carbon neutrality), and relevant net-zero guidance, thus enabling organisations to measure and manage their carbon emissions with confidence and credibility.

There is that saying, ‘you do what you measure’ and SMART (Specific, Measurable, Achievable, Realistic, Time-bound) objectives are part of all our lives. Measurement matters.

The banking sector has been quick to highlight downsides in President Donald Trump’s suggestion of a one-year 10% cap on credit card interest rates in the US.

The European Union Parliament has approved the digital euro initiative, reaching agreement with the European Council on creating a currency that will function both online and offline.

In Germany, consumers can pay in unlimited amounts of cash. Only for sums over €10,000 do buyers have to prove their identity and prove the origin of the money.

The 10th edition of Currency Research’s (CR) Central Bank Payments Conference is coming to Istanbul, Türkiye, 23–25 March 2026. Designed as a forum for senior-level authorities, the conference brings the global payments community together for three days of policy-level exchange.

At the end of last year, the Eurosystem Research Network on Cash (EURECA) held a workshop at the European Central Bank (ECB) to consider the latest currency research.

The CB+DC Conference, which focuses on digital currencies and payments, will hold two events in 2026, one in Kuala Lumpur hosted at Sasana Kijang, the Bank Negara Malaysia’s training facility, 12–14 May and one in Amsterdam 27–29 October. Registration is now open.

The Rwanda Bankers’ Association (RBA) has considered lessons to be learnt from the implementations of CBDC in the Bahamas, Jamaica and Nigeria.

A Bank of Canada Staff Discussion Paper calculates the marginal cost of an electronic funds transfer (EFT) to be about C$0.55 per transaction ($0.4) and the total fixed cost of running an EFT to be C$83 million per year ($60.23 million).

The Danish physicist, Niel Bohrs, said, ‘prediction is very difficult, particularly if it’s about the future’. Few would argue with him, however, here we go… What will be the big themes in 2026 when it comes to cash and payments? Herewith an eclectic mix of suggestions.

Data from LINK, in the UK, shows that compared to 2024 ATM transaction volumes were 1.27 billion (down 8.3%) and withdrawal values were £76.67billion (down 4.2%). The average ATM withdrawal value in 2025 was £92.11.

At the Future of Cash conference in Warsaw last November, there were a number of presentations and conversations about ATM business models and interchange fees.

Cash management is changing as cash moves from being a core business for commercial banks and retailers to being a cost centre. Today’s cash management companies (CMC), such as Loomis, are changing their ‘offer’ to that of ‘cash-as-a-service’ rather than just offering traditional cash-in-transit (CIT) cash services.

In 2025 Nigeria suffered from severe cash shortages. In response a special committee was established, chaired by the Central Bank of Nigeria’s (CBN) Governor Olayemi Cardoso. The committee undertook a holistic and comprehensive end-to-end review of the entire cash lifecycle: from production, to transportation, to distribution, and eventual access by consumers.

A Bank of Italy paper has pointed out there is a link between permissionless blockchains, the most common settlement infrastructures in the crypto ecosystem, and the volatility of the prices of crypto-assets and the availability and security of these infrastructures.

A new Deutsche Bundesbank study, ‘The cost of payment methods in the retail sector accessible’, analyses both monetary costs – fees, charges, equipment and transport costs – and non-monetary costs – the time spent by retailers using payment instruments at the point of sale or for administrative expenses.