Report: Cash Usage Rising In Both Developed, Emerging Markets
Despite predictions that cash is going the way of the dodo bird, a new study by the Bank for International Settlements found that notion is more bluster than reality.
According to a report in Reuters citing the Bank for International Settlements, the study found that the use of cash is actually rising in both developed and emerging markets. “Some of the breathless commentary gives the impression that cash in the form of traditional notes and coins is going out of fashion fast,” said Hyun Song Shin, BIS economic adviser and head of research, according to Reuters. “Despite all the technological improvements in payments in recent years, the use of good old-fashioned cash is still rising in most, though not all, advanced and emerging market economies.”
Photo courtesy of indicpeace.