PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Dutch Central Bank Stresses Importance of Cash

Mercator Advisory Group by Mercator Advisory Group
July 2, 2013
in Analysts Coverage
0

Banker Worker Welcome Gesture Modern Bank Office Workplace Flat Design Vector Illustration

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

The De Nederlandsche Bank (the Netherlands’ central bank) announced in a bulletin it fully believes in the importance of cash in both the present and near future.

From Finextra:

The latest research by DNB reveals that the volume of debit card payments at Dutch points of sale has increased from €81 billion in 2010 to €84 billion in 2012. At the same time, cash withdrawals at ATMs dropped from €52 billion in 2010 to €49 billion in 2012.

So in terms of sales, the card has overtaken cash, but in terms of transaction numbers, cash is still the dominant means of payment, with 3.8 billion cash payments made at Dutch counters in 2012, against 2.5 billion card transactions.

As a result, the DNB is committed to “maintaining cash as a universally useable and available payment instrument and a smoothly functioning cash chain.”

Though the bank highlighted the efficiency gains of debit card use, it reinforced that cash is the only universally accepted payment instrument and serves as the primary alternative if a consumer’s debit or credit are not working.

DNB expects cash to remain indispensable for some time to come. For this reason, cash should remain generally available as an all-purpose means of payment, implying that consumers must be readily able to withdraw and deposit cash from and into their bank accounts. Retailers, in turn, should have easy means at their disposal to deposit counter receipts into their bank accounts.

Though the DNB’s announcement is another headline pointing to the decline of consumer cash use in developed countries, it also serves as an important reminder of the importance of cash in society and reinforces the notion that the cashless society is years away (if ever) from becoming reality.

Click here to read more from Finextra.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023
    credit card experiences, digital payments, b2b payments

    Will Consumer-to-Business Payment Trends Drive B2B Global Growth in 2023?

    January 23, 2023
    Faster Payments Faster Identity Verification, connected car, payments

    2023 Predictions: Authentication, Digital Identity, and In-Car Payments

    January 20, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the U.S. Bank report - Real-time payments