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Guaranteeing freedom of payment choice: access to cash in the euro area

Alejandro Zamora-Pérez

Economic Bulletin Articles, 2022, vol. 5

Abstract: In the digital age, innovation in retail payments is influencing payment choice and transforming the payment landscape. However, survey evidence indicates that for the largest share of transactions at the point of sale euro area citizens choose to pay in cash, and some of them have no other payment option. It is a responsibility of central banks to ensure adequate access to cash to guarantee consumers’ freedom to choose their method of payment and to prevent financial exclusion. This article describes the situation as regards access to cash in the euro area and the ongoing work by the Eurosystem to ensure that access to cash remains adequate. JEL Classification: E58, E41, R12, G21

Keywords: Access to cash; ATM network; bank branch closure; financial inclusion; spatial analysis (search for similar items in EconPapers)
Date: 2022-08
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