Prior to the COVID-19 pandemic, coin circulation faced challenges. Although coins are a payment instrument in their own right, they are, of course, only one part of the cash cycle. Any consideration of the impact of COVID on coins starts with the wider payment scene to provide the full picture.
This webinar will first review the ongoing challenges facing coins, before examining in more depth what has happened to payments since March, considering circulation data, payment surveys and payment reports. Clearly Europe is different from Africa which is different from Asia etc. In the mix is not just how consumer payments are now being made, but also the rapid development of RTGS systems, developments in non-bank payment systems and the shadow of Libra (Diem) and China’s CBDC, all of which aim to transform payments.
How do we forecast the future when the past cannot be used to predict it? There are key indicators that enable non-cash payments, and it is possible to segment societies according to how they prefer to pay. But how to then model this?
Finally, some thoughts on how to approach sustaining cash beyond just cutting costs.
Although this webinar will start and end with coins, it seeks to allow us all to think more widely about cash as just one payment option.