ECB

A cashless society won’t happen tomorrow

‘Do you trust cash as a mean of payment?’ Most of us have never asked ourselves this question as cash is deeply rooted in our daily lives; sometimes we use it without even noticing. Yet, behind all of our coins and banknotes there is a world of professionals who work to keep cash secure and accessible to all of us. Many of these professionals met in Paris in April to discuss the future of cash. If you believed that your banknotes were slowly disappearing, you are probably mistaken.

Why big banks look forward to a cashless society

Banks are like any other business, but they have a particular position on the market. They permeate every other kind of business, as an intermediate agent in almost every type of transaction, except one: cash. Thus, banks are trying to close the loophole, through the slow deletion of cash from our societies.