The International Mint Industry Association (IMIA) issued a brief making the case for cash and for freedom of choice at its launch this month.

The Bank of Canada (BOC) has published two survey reports in the last few months. The first was the Methods of Payment survey 2021 and the second the Merchant Acceptance Survey Pilot Study.

Commercial banks are profit-seeking entities. Cost reduction to maximise profits and automation are core to achieving that. Bank branches and ATMs are expensive, hence the drive to close so many of them and, in the process, the ability to deposit and issue cash goes too. Merchants and the public are pushed towards going cashless, or at the very least, less-cash.

As noted in the December issue of Cash & Payment News™, the European Union has announced a set of new directives to limit the amount of cash and crypto transactions in a move, it says, that will crack down on money laundering and terrorist financing.

The International Mint Industry Association has published a position paper (2023/01) urging the European Commission to give legal certainty on the implications of the legal tender status of euro banknotes and coins in terms of mandatory acceptance and to enshrine it in secondary law.

Currency Research will be holding the inaugural Silk Road Cash & Payments Conference in Almaty from 27-29 March.

At the end of 2011, the Netherlands had 2,654 bank branches. At the end of 2021 this had fallen to 726, and not all of those provided over the counter cash services. At the same time, more than 4% of retailers now inform customers that they don’t accept cash.

The International Mint Industry Association (IMIA) was founded last year and officially launched this month at the World Money Fair in Berlin, with a specific focus on research and advocacy for coins as part of the cash, and hence payments, ecosystem. IMIA President Gerhard Starsich (GS) and Managing Director Martina Horakova (MH) spoke to sister publication Coin & Mint News™ about the foundation of the new association, the role of coins in the cash cycle, and how the IMIA plans to make the case for their importance, and indeed that of cash overall.

In a recent speech to the European Union Committee on Economic and Monetary Affairs, Fabio Panetta, European Central Bank board member, said the ECB is looking at a new digital euro app with a basic payment function and creating a standardised way of connecting end users to intermediaries.

The Dutch National Bank has carried out research into how people are coping with adapting to digital payments. Nearly 20% of those over 18 years old, 2.6 million, struggle with digital payments.

Innovation in the UK’s banking sector continues, with Barclays Bank announcing the introduction of semi-permanent banking pods. 10 will be established by summer 2023 following a successful trial.

There will be very few organisations that can eliminate carbon emissions completely, and most organisations are going to take a number of years to get anywhere close.

Sveriges Riksbank has issued its 2022 Payments Report into the retail payments market. The report underlines the wide-ranging activities of the Riksbank to support the needs of all sectors of society when it comes to payment.

Cash Works… But It Could Work Even Better! This is the title of the Koenig & Bauer Banknote Solutions white paper on cash innovation & sustainability.

SICPA has entered into a strategic partnership with the INX Digital Company with the aim of helping governments develop innovative and sovereign Central Bank Digital Currency ecosystems.

The Bank for International Settlements (BIS) has created an open access database of data relating to retail payment for 95 countries from September 2019 to June 2022.

At the beginning of September, the Central Bank of Nigeria (CBN) revised cash withdrawal limits as part of its campaign to increase the use of electronic payments. Feedback on the limits has led it to update its original Circular.

The Fraunhofer Institute has been working on a project known as BASIC since January 2020, which aims to strengthen the resilience of the cash supply infrastructure in the event of an emergency or crisis.

The European Central Bank (ECB) has reported on its Study on the Payment Attitudes of Consumers in the Euro Area (SPACE) 2022.

The 2023 World Banknote Summit (WBS) takes place 20-22 February in Antwerp.