Cash increasingly used as store of value – BIS report
Cash “still king”, BIS authors say, but electronic payments are taking a bigger share of transactions
Cash is “still king”, according to analysis published by the Bank for International Settlements, but its role in the global economy appears to be shifting towards a store of value function.
Electronic payments are becoming increasingly ubiquitous and easy to use, write Morten Bech and Codruta Boar, in analysis published alongside the annual “red book” statistics. This is leading many consumers to choose electronic means of payment for their day-to-day needs.
“Currently, fast retail payment
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