The International Currency Association (ICA) has appointed Wolfram Seidemann of Giesecke&Devrient Currency Technology as its new Chairman. The previous Chairman, Barna Barabas of JURA, stepped down from the position but remains a Board member. The ICA, founded in 2016, states it is “a voice for cash, promoting its continuing role as part of diverse, open and…
The International Currency Association (ICA) has unveiled a new online platform: Cash Matters. The global pro-cash movement provides facts and figures associated with the cash industry via their website. The organisation will also be active on social media to provide information regarding payments to the general public. According to their website, their aim is to: “…channel the voices that…
India’s citizens are now able to make unrestricted cash withdrawals, ending the period of cash rationing imposed on the country by Prime Minister Modi. From Monday 13 March 2017, all cash withdrawal limits from Savings Bank accounts were withdrawn, allowing the citizens of India to withdraw cash freely. The country has been through a period of demonetisation whereby the ₹500…
Sveriges Riksbank, the Central Bank of Sweden, has served a notice to the Swedish parliament calling for access to cash to be a legal right. The notice, which was submitted to the country’s Ministry of Finance on the 16 March 2016, asks for the nation’s banks to provide a cash service to ensure access to accounts…
The Bank of England has announced that banknote demand for its notes is increasing. In an article released today, the Bank of England confirms that banknote demand is growing faster than nominal GDP. Banknotes with an estimated value of £62.6billion are thought to be in circulation, resulting in the equivalent of £1,000 in banknotes in…
The new year brings a new currency for Lithuanians, as, on the 1st January 2015, Lithuania became the 19th member of the euro currency area, replacing the previous Lithuanian litas currency to the Euro at an exchange rate of €1= LTL 3.45280. Lithuanians have 2 weeks to continue paying for items using Lithuanian litas, but…
Mobile network operator EE has developed a Glastonbury festival app which will include their “Cash on Tap” contactless payment service. The telecommunications company has paired with Glastonbury organisers to produce the official Festival app which will also provide users with music line-ups, interactive maps and real-time festival updates. Using cash at festivals such as Glastonbury, which drew crowds of 250,000…
Transport for London (TFL) has today advised the public that their network of buses will stop accepting cash payments from Sunday 6th July 2014. Instead, pre-paid Oyster cards or contactless payment cards can be swiped against on-board card readers, and Travelcards continue to be available. Related stories: London buses to stop using use cash Source: Transport…
A report released today by the British Retail Consortium (BRC) shows that cash use in payment transactions is still the predominant payment choice but is one that is gradually declining. The BRCs Retail Payments Survey 2013 reports that cash has reduced in value, number of transactions and the average transaction value. When comparing to the 2012 figures, cash…