A ‘Future of Cash’ conference on April 21 and 22 in Madrid, organised by AGIS Consulting, is aimed at central bankers and decision-makers from financial institutions and others within the cash cycle.
As cash demand continues to grow alongside developments in alternative payment methods, a ‘Future Makers’ workshop with the international think tank Demos Helsinki, will see delegates design scenarios for the future of cash and develop roadmaps to secure its distribution.
How cash is undergoing a transformation will be examined under the ‘CashTech’ project – a new forum that will see start-ups and fintechs examine how disruptive technologies can be applied to enhance the competitiveness and convenience of cash as payment tool for consumers and retailers. They will enable consumers to pay cash for their online shopping or use lifestyle apps to access cash from their local shop.
Other sessions cover ways to improve cash collection, cash handling and recirculation. Presentations will also compare business models – such as ATM pooling or utility models – can make cash more efficient. Central bank perspectives on cash will showcase how technical processes are transforming the way cash is used and handled.
Most countries have been seeing continued growth in demand for banknotes and coins. Worldwide, cash is the leading payment instrument, even if there are significant differences between countries, say organisers.
Guillaume Lepecq, conference chair says: “Cash possesses unique attributes, which are mostly unmatched by alternative payment instruments. Cash also generates benefits for society that are not directly linked to its payments function: it ensures financial inclusion, it protects users’ anonymity and it also works when the power is down or in case of computer outages. The bold and imaginative futures that this conference will design come as timely and unique opportunities for all involved in payment technologies and how they can actively shape the future of cash.”
Visit www.thefutureofcash.com.
