'None Can Match Hard, Cold Cash'

Universal acceptance, ease of use, educational role will help maintain demand for hard cash despite alternative methods.

Published: 05th April 2016 05:33 AM  |   Last Updated: 05th April 2016 05:33 AM   |  A+A-

NEW DELHI: Universal acceptance, its ease of use, its contingency role and its educational role will all help to create the sustained demand for currency notes and coins and despite several alternative payment instruments, none  can match its full range of benefits, says a report by Paris-based AGIS Consulting.

None.jpgIn a white paper titled “Cash Essentials”, drafted by international payments industry expert Guillaume Lepecq, he has argued in favour of cash, against virtual money. “Cash is a robust payment technology ideally suited to fast-paced modern economies. Cash payments are supported by state-of-the art security and distribution technologies that keep fraud to very low levels – often much lower than those of competing payment technologies,” says Lepecq.

Technology has enabled the development of new equipment including contactless cards, mobile phones, tablets, smart watches and biometric devices. Further, the deregulation has allowed non-banks into the payments market, which has been a banking prerogative for centuries, the paper said.

“Cash is a public good and everyone benefits from it: from the people in developing countries trying to join the financial system to those in more advanced economies looking for a secure payment mechanism and store of value,” says Lepecq.

Stay up to date on all the latest Business news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp