Cash & Payment News

The July issue of Cash & Payment News™ – our sister publication, which analyses how cash is used and the wider payments eco-system – focuses on:

• Financial inclusion

• Cash cycle resilience

• The use of various forms of Artificial Intelligence (AI) in the world of central banks and finance

• The latest Central Bank Digital Currency (CBDC) developments, particularly the Bank for International Settlements (BIS) second Polaris report on CBDC security and resilience.

The Dutch National Bank (DNB) has issued a working paper that focuses on those who are known to use more cash and to understand why as well as what their relationship is with digital payments. The conclusion is that the need for cash is real, it is not just a preference.

The International Association of Currency Affairs (IACA) ran a workshop on resilience with its members at the Currency Conference and there were also two presentations on the subject in the agenda. Interesting take-aways include the importance of the retailer in determining the future of cash and the switch of cost to operations and away from capital expenditure. We cover the payment end of the Currency Conference here, including the changing nature of cash in many areas of the world.

AI is, of course, everywhere in the press currently. It is much talked about but, perhaps, less well understood. We have not focused specifically on the cash industry here but include two pieces covering the regulatory challenges of using AI in the financial space and a summary of a paper on central banks and big data and machine learning.

Work on CBDCs continues to progress. This month we cover the BIS’s ‘how to’ report on ensuring CBDCs are secure and resilient, the latest Polaris paper. A challenge for CBDCs is actually getting the public to use them. Given that China is leading in this area, we include a summary of what China has done to encourage the use of their e-CNY over the last few months.

All this and a round-up of cash, payment and CBDC news!

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