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.

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.

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 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.

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 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.

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.

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.

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.

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 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.

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.

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.

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.

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.