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Why is use of cash persisting? Critical success factors for overcoming vested interests

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  • Salmony, Michael

    (Equens SE, Germany)

Abstract

This paper examines the extent of cash usage and analyses the reasons for its continued success, indeed resilience, against modern — superficially more convincing — alternatives. While it is well known that cash handling causes significant financial and social burdens upon all economies, many of the incentives to each involved stakeholder group (government, central banks, retail, consumers) that keep cash alive are not so well known. Hence, critical success factors for at least partial displacement of cash — which must overcome all stakeholders’ interests to make electronic alternatives a success — are developed. Technological innovations in different geographies are analysed to show possible future development of payment innovations that can add value and lead to a more efficient, less costly and more secure business and society.

Suggested Citation

  • Salmony, Michael, 2011. "Why is use of cash persisting? Critical success factors for overcoming vested interests," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 5(3), pages 246-272, September.
    • Handle: RePEc:aza:jpss00:y:2011:v:5:i:3:p:246-272
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    More about this item

    Keywords

    cash; innovations; online; mobile; payments;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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