Does Cash Usage Rise or Fall?

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According to Central Bankers in London, although many people use cards or mobile phones for their daily purchases, it seems that cash usage is still alive. On the other hand, the payments sector claims that there is no need to install any new ATM machines or bank branches because the use of cash is falling.

BIS quarterly reviews show that the use of cash is still rising in the majority of the market economies, despite technological improvements and advances. While we all recognise the necessity of technological improvements and innovations in the payment sector, the reality is that we cannot overlook the importance of cash.