The CashTech Innovation Awards

The global independent think tank CashEssentials has announced the launch of the CashTech Innovation Awards, to recognise innovations that will facilitate access to and acceptance of cash.

According to CashEssentials, CashTech is the encounter of cash and technology. It brings together innovative companies who leverage software and modern communications technology to improve cash services – including access for consumers and businesses; facililating the acceptance of cash by retailers across all channels; and enhancing the overall efficiency, resilience and sustainability of cash.

As banks reduce their cash infrastructure (branches, ATMs and cash centres) in most advanced economies, CashTech has moved quickly into the open lane. Increasingly, it appears as a compelling addition and complement to traditional channels for the distribution and circulation of cash. Other innovators are enabling consumers to pay in cash, including for their online shopping. Ride hailing apps across the globe have also been increasing their acceptance of cash.

‘CashTech isolates pain points in the cash cycle and offers solutions to make it sustainable going forward’, said CashEssentials. 

‘Innovation contributes to the long-term tenability of cash amid stiff competition from alternative payment options, by increasing access, acceptance and resilience and lowering costs’.

The CashTech Innovation Awards will be in three distinct categories:

• Best CashTech – open to all organisations.

• Best CashTech Innovator – open to start-ups and companies founded after 2015.

• Best CashTech Start-Up - open to start-ups companies founded after 2019.

The Awards Ceremony will be held during the Future of Cash Conference in Madrid on 15 September 2022.

Details of how to nominate CashTech projects and solutions for the awards will be made available shortly at www.cashessentials.org.