Archive – Cash and its future

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Russia’s 1- and 5-kopek coins to be phased out

Due to the high production cost the Bank of Russia practices the “soft elimination” of 1- and 5-kopek coins allowing the coins to circulate until they wear out. Simultaneously the Russian government is experimenting with a card, which is thought to replace change in the future. more ]

Cash money on its way to extinction?

A world without graft, bank robberies and theft? Wouldn’t it be great? But at the condition that it would be a world without cash money …? How the use of cash money might change in high tech societies in a digital world we can learn looking at Sweden. And it might be worth observation. more ]

Norway searching for an efficient payment system

According to the Norges Bank 2011 Annual Report on Payment Systems Norway and Iceland lead the world in payment card usage. To reduce payment costs the banks are developing services to increase the speed of payment transfers and contactless payments. more ]

Future of cash conference

From Tuesday 25 to Wednesday September, 26 2012 an international conference on the future of cash will take place in Paris. The event will be accompanied by an exhibition. more ]

End of cash?

The mobile-payments revolution has arrived yet. Will this be the end of cash as Miguel Helft thinks? He has published a very detailed article on CNN Money. more ]

Cashless payment becoming increasingly popular in UK

Cashless is becoming continuously more popular in the UK. People carry little money on them, would prefer to pay smaller sums with credit cards, and some even do not withdraw any money at all as a study by a British bank has recently revealed. more ]

Will the vending machine industry decide on the future of coins?

How long will coins be used any longer? Dave Harper doubts whether coins will continue to exist for much longer, at least in the USA. The decisive factor might become the vending machine industry. more ]

Superstorm Sandy Demonstrates Need for Traditional Cash

After superstorm Sandy in the USA cash could not be obtained from banks, electronic payment and transfer systems including debit and credit cards could not function. Thus, are coins and bank notes really becoming obsolete? more ]

Germans Prefer Cash

According to a new study conducted by the Deutsche Bundesbank, Germany’s National Bank, cash is the first payment choice in Germany. However, the Girocard is gaining ground and e-commerce, although negligible today, will become much more accepted in future. more ]

Virtual currency Bitcoin approved by European institutions

Bitcoin is a decentralised virtual currency that can be applied to instant internet payments like for example PayPal. Now it has been approved as a registered payment service provider (PSP) under European Law. more ]

Counterfeit-immune money may be possible – one day

Recently researchers are making progress on how ‘quantum money’ – based on quantum mechanic – could be created. The first reason above all why applying quantum mechanics with money would be the fact that quantum money could not be counterfeited. more ]

Cash is King on Cyprus

Economic crisis clarify, which part of our currency is the base of daily life. There have been huge problems in Cyprus simply due to the fact that the coin supply did not work any more. more ]

“Cash Is Dead – Long Live Cash” Says Fed

The Federal Reserve Bank of San Francisco is home to the Cash Product Office. As part of its remit to understand and predict cash demand, its President and CEO, John C Williams, recently published an essay entitled ‘Cash Is Dead! Long Live Cash!’. more ]

Is Bitcoin becoming too successful?

Bitcoin, recently, has caused quite a stir in the media. The virtual currency that was worth over $200 per unit – for a couple of hours before going down again; Trojan horses infecting computers; and now it seems that authorities have a down on Bitcoin, too. more ]

Bitcoin and more – an overview of virtual currencies

The Wall Street Journal has published an article putting together the various virtual currencies – like bitcoin – ‘in circulation’ online and in the non-virtual world. more ]

Tomorrow’s Transactions Forum – Cashless Side by Side with Cash

In April London hosted an event focusing on digital money and electronic payments. Tomorrow’s Transactions is organised by Consult Hyperion, a London based IT consultancy specialising in secure electronic transactions and this year was the 16th event. more ]

Kenyan pickpockets fight against cashless society vision

Reality or satire? Kenyan pickpockets held a press conference protesting a cashless society. They urge government to help them exercising their work, train them in skimming ATM cards and ban foreigners from the ‘market’. more ]

No good signal for unity in the EMU

This was a reader’s letter published in the German newspaper ‘Oberhessische Presse’ in Marburg on June 3, 2013. It referred to an article discussing the possible elimination of the 1 and 2 cent coins. more ]

Dutch National Bank Investigates Psychology Behind Payment Method Choices

The Dutch Central Bank recently conducted research into the psychological aspects behind choosing one payment method over another. Its motivation for the research was to understand why the migration from cash to electronic payments has not proceeded as quickly as expected in the Netherlands. more ]

ON THE RECORD: The Royal Mint - Overcoming Market Challenges

The Royal Mint is one of the most renowned mints with a long history. Currency News spoke with its CEO Adam Lawrence what challenges the mint has to face and how it deals with them. We republish this interview here. more ]

Ireland Pilots Move to Eliminate Small Coins

Ireland may soon be joining Finland and the Netherlands in dispensing with 1 and 2 euro cent coins, if a current two month ‘rounding’ trial involving more than 240 businesses in the Irish town of Wexford proves a success. more ]

The future of cash

Predictions of the future are nothing but descriptions of the present. So what are the current developments in payments? Maybe they will give us some clue about future trends. An essay by Ursula Kampmann. more ]

Will India introduce plastic coins as cost saving measure?

An Indian engineer proposes to save billions of Rupees by substituting coins made by metal with coins made of plastic. He believes the coins would have other advantages too and the Ministry of Finance is currently considering his plans. more ]

Circulating coins: cost efficiency and collaboration with the general public

Between October 21 and 23, 2015, the Coin Conference took place in Madrid. In seven sessions, topics revolved around circulating coins. This time, we report on projects of central banks aiming at involving the general public in their activities to work in a more cost-efficient way. more ]

Circulating coins: security features and social responsibility

Between October 21 and 23, 2015, the Coin Conference took place in Madrid. In seven sessions, topics revolved around circulating coins. This time, we report on considerations on new security features and the social responsibility of companies. more ]

Circulating coins: cash logistics

Between October 21 and 23, 2015, the Coin Conference took place in Madrid. In seven sessions, topics revolved around circulating coins. This time, we report on strategies for an ideal cash logistics as described by different central banks. more ]

News on circulating coins: The Coin Conference in Madrid

From October 21 to 23, 2015, the Coin Conference took place in Madrid. It was attended by 200 delegates, representing more than 30 nations, who wanted to acquaint themselves with the latest trends in circulating coins. In seven sessions, 28 speakers talked about their experiences. more ]

Circulating coins: trends and new coin series

Between October 21 and 23, 2015, the Coin Conference took place in Madrid. In seven sessions, topics around circulating coins were discussed. This time, we report on trends and present insights from new coin series from Sweden and Mexico. more ]

nanoPay Acquires MintChipTM from the Royal Canadian Mint

The Royal Canadian Mint has sold MintChipTM, a digital currency product developed by the Mint, to nanoPay, a fully-integrated loyalty and payments platform provider, the first digital cash platform to kick start the evolution of currency™. more ]

The MDC in Bangkok: News from the world of mints. Part 1 The plenary sessions

From May 1 to 4, 2016, the Mint Directors Conference took place in Bangkok. It was attended by nearly 360 delegates for whom 35 presentations were held. Here you find the first part of a short abstract of the papers given. more ]

Gold, a new digital currency?

Investors usually buy physical gold or shares that reflect the gold price. The British Royal Mint offers the first digital blockchain-based platform for trading gold. Intended as an investment option, RMG® could also become a digital currency. more ]

Update on the actual vanishing of small denominations

Everybody is talking about the disappearance of the small denominations. We are putting the perception to the test: How many small denominations have been abolished between 2014 and 2016? How many banknotes have been replaced by coins? more ]

SNB presents results of the 2017 survey on payment methods

In the autumn of 2017, the Swiss National Bank (SNB) conducted a survey on payment methods for the first time. The aim of the survey is to obtain representative information on payment behaviour and the use of cash by households in Switzerland. more ]

UK and France Consider Withdrawal of Low-Denomination Coins

Bank of England employees have published a comment on the feared ramifications of abolishing coppery coins of low value. Discussions about such a course of action have not only been rekindled in the UK, however. France is allegedly considering doing the same. more ]

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