Payments are a-changin' but cash still rules

Morten Bech (), Umar Faruqui, Frederik Ougaard and Cristina Picillo

BIS Quarterly Review, 2018

Abstract: Retail payment systems continue to become faster and more convenient. Yet, despite increased use of electronic payments around the world, there is scant evidence of a shift away from cash. As the appetite for cash remains unabated, few societies are close to "cashless" or even "less-cash". In fact, demand for cash has risen in most advanced economies since the start of the Great Financial Crisis. This resurgence appears to be driven by store-of-value motives (reflecting lower opportunity cost of holding cash) rather than by payment needs.

JEL-codes: E40 E41 E42 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (57)

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