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World Cash in Circulation
ATM & Payments Innovation SummitOctober 2019, Rome
Ron DelnevoATMIA
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Introduction
Hello!
Ron DelnevoExecutive Director
ATM Industry Association
+44 7973 210154
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• Euro zone
• Non-Euro zone
• UK
• USA
The trends are good almost everywhere, but we will focus on some crucial markets
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Euro – value of banknotes in circulation
Source: ECB
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Euro – value of coins in circulation
Source: ECB
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Switzerland – value of banknotes in circulation
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Sweden – value of notes and coins in circulation
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UK – value of banknotes in circulation
Source: Bank of England
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USA
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Cash in circulation - USD in billions
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Circulating – but not used for payments
• Despite the growth in cash in circulation in almost every market, we keep being told the cash is all being hoarded.
• How high off the floor must everyone’s bed be?
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Let’s look at the UK to slay some myths
The British Retail Consortium Payments Survey 2018 seemed to show that cash only accounts for 20% of payments:
•Cash £77.7 billion
•Cards £296 billion
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Let’s look at the UK to slay some myths
The British Retail Consortium Payments Survey 2018 seemed to show that cash only accounts for 20% of payments:
• Cash £77.7 billion• Cards £296 billion
Cash issued in UK in 2018: £197 billion
Card expenditure in UK in 2018: £296 billion
TOTAL: £493 billionTotal UK household expenditure in 2018: £500 billion
Cash is 40% (NOT 20%!) of all payments by value; over 50% by number of payments
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So everything is rosy?
Not quite!
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In many markets, both access to cash and cash acceptance are under threat
• So what do we need to see?
• In my opinion, government intervention to guarantee access to, and acceptance of, cash
AND WE ARE STARTING TO SEE THIS
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Regulatory pressure in Sweden
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And it wouldn’t just be cash protected by government legislation, it would be PAYMENT CHOICE
ALL businesses which accept in-person payments to be legally obliged to accept ALL payment methods
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So what else do we need to see?
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We need to see
In every community – in the UK that will mean locations with 1000 or more adults in residence – we need to see Community Financial Services Hubs with Smart ATMs, capable of:
of both banknotes and coins
deposit
recycling
dispensing
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How are these to be funded?
Two methods:
• Economic levels of interchange
and / or
• Reasonable charges met by the public and businesses for these local services
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As far as acceptance is concerned, look at the US
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Conclusions
• The value of cash in circulation continues to grow at an exhilarating rate in almost every market
• More cash is being used for payments than most surveys indicate
• Government legislation is required to safeguard Payment Choice