- While the use of digital forms of contactless payments continue to grow rapidly in economies around the world, the global currency-in-circulation also continues to grow year-on-year and currently stands at an estimated $40 trillion.
- Over 550 billion banknotes from 180 recognised global currencies are currently in circulation.
Cash retains an advantage over other forms of payment in that it is convenient, reliable and anonymous. Periods of global uncertainty have invariably seen an increased demand for cash as people look to protect against unforeseen emergencies.
Closures of local branches of banks and a shrinking network of ATMs is making access to cash more difficult in some countries. Some retailers are insisting on payment by digital methods only and governments are having to intervene to make the acceptance of cash payments a legal obligation.
Key Questions
- Is the world heading towards a cashless society or will cash retain an important role in payment transactions well into the future?
- What technologies are being utilised by central banks to introduce new and more secure banknotes and combat the efforts of counterfeiters?
- How are developments in central bank digital currencies creating challenges that could impact the future of physical cash?
This report is essential to:
Organisations active in the printing and distribution of cash
Payment technology suppliers
Central banks, state printers and mints
About the author
Keith Jacques has many years’ experience in carrying out market research projects on a wide range of topics including security print; backed up by over 40 years’ industry experience in a variety of roles in technical sales and marketing, and new business development.
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