Around a third of eurozone consumers have reduced their cash usage compared to pre-pandemic levels. According to the results of a recent European Central Bank (ECB) survey assessing consumers in every eurozone country, the largest group of respondents — 54% of them — reported no...
The Central Bank of Nigeria (CBN) is taking a tough stance on the cash economy. On Monday (Jan. 9), new limits on ATM withdrawals come into force, a move which comes a few days after the government announced a ban on all cash withdrawals from...
Nigeria will ban cash withdrawals from government accounts from March 1. Modibbo Tukur, the chief executive of the Nigerian Financial Intelligence Unit (NFIU) said the move was part of efforts to tackle money laundering, according to a Thursday (Jan. 5) Bloomberg report. “On March 1,...
Denmark recorded zero bank robberies in 2022 as it continued moving towards a cashless economy. Robbers in the Scandinavian country have moved away from bank hold-ups, as banks have improved security and cut back on cash services at their branches in response to a decline...
The Italian government has scaled back plans to promote cash payments. After announcing in its 2023 budget that it would scrap fines for merchants that don’t accept card payments, on Monday (Dec. 19) the government backtracked on the move. “We intend to eliminate the measure...
Payments technology company Brightwell has launched an ATM program for the cruise industry. The Atlanta company said the program — done in partnership with ATM firm NCR — helps the sector drive revenue and reduce the cost of operating automatic teller machines, Brightwell said in...
Italy’s central bank is warning the new government about the risks of a cash-heavy economy. As new Prime Minister Giorgia Meloni’s government looks to ease rules governing the use of cash in the economy, Fabrizio Balassone, head of the structural economic analysis directorate of the...
G4S is one of the most important players in the U.K.’s cash ecosystem. Its subsidiary, G4S Cash Solutions, is one of only four companies that participate in the Bank of England’s Note Circulation Scheme (NCS) which provides a framework for the wholesale distribution of cash....
Sept. 30 marks the end of an era for British money as the Bank of England (BoE) will be withdrawing the legal tender status of paper 20-pound and 50-pound banknotes. After this date, businesses will no longer be accepting these banknotes as payment, according to...
