Thematics insights: Is cash an endangered species?
August 10, 2020
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13 min
Key content
- Since the beginning of the health crisis, merchants have actually quite often refused our bank notes and coins. Legally, they are not allowed to do that, but they make it clear that they don’t want our physical money.
- By 2023, checks will have completely disappeared. Checks are currently the least secure payment method, and many shops do not even accept them anymore.
- The COVID-19 pandemic has been a considerable catalyst pushing us towards electronic payment methods. The fear of spreading the coronavirus due to handling notes and coins has encouraged consumers and merchants alike to use more digital payments.
Resources
This article has been provided for information purposes only to professional clients as defined in the MiFID Directive. It must not be used for retail investors. The provision of this material or reference to specific sectors or markets in this article does not constitute investment advice or a recommendation or an offer to buy or sell any security. Investors should consider the investment objectives, risks and expenses of any investment carefully before investing. Views expressed in this article as of the date indicated are subject to change and there can be no assurance that developments will transpire as may be forecasted in this article.
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