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Whither Cash in Payments?

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  • Cronin, David

    (Central Bank of Ireland)

Abstract

The use of cash (banknotes and coin) in making payments has been in relative decline in Ireland and in other European countries for some time now, as a substitution to card payments by the public has occurred. The adoption of contactless payment technology in recent years and the current pandemic appear to be accentuating the decline of cash as a payment instrument but a demand for cash for this purpose can be expected to remain in place over time. Central banks, in conjunction with payment providers, then will need to continue to supply and distribute banknotes and coin to the public against the backdrop of a falling but likely substantial demand for cash.

Suggested Citation

  • Cronin, David, 2021. "Whither Cash in Payments?," Quarterly Bulletin Articles, Central Bank of Ireland, pages 64-87, January.
    • Handle: RePEc:cbi:qtbart:y:2021:m:01:p:64-87
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    References listed on IDEAS

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    Cited by:

    1. Cronin, David & McInerney, Niall, 2022. "ATM Cash Withdrawals Before, During and After the Covid-19 Pandemic," Economic Letters 6/EL/22, Central Bank of Ireland.

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