Social inclusion, data protection, privacy and financial freedom matter more than ever.
Keeping cash as an option in the payment landscape, means the public maintains their right to:
- Choose whether to involve their bank or government in each spending decision;
- Choose whether to avoid the payee gathering an unspecified amount of their personal data;
- Choose whether to give an anonymous donation to a loved one, a charity or a stranger;
- Or establish financial inner peace with a cash-budget system.
Advancements in payment technology should be encouraged, but eliminating cash should not, because while 2 billion people remain unbanked, cash is the only choice for 38% of the world’s adult population. And while every nation has their own array of payment option, 50% of payments across 75% of countries are still conducted in cash.
“Cash remains fundamental in our day to day global economy. The evidence shows that contrary to popular opinion, demand for cash is growing...”
Perhaps this is because cash is the only truly democratic payment option. It is a social equaliser that can be used with ease by and between people of all walks of life: young, old, poor, rich, tech-savvy, tech-resistant, tourist or local.
Choices empower you, and that matters.
“Every day, we make hundreds of choices,
Whether to snooze, or not to snooze,
From picking out what we wear,
To what we have for breakfast,
How we get to where we’re going,
And which project to tackle first,
Choices empower you.
So why shouldn’t you be free to choose how you pay,
When you’ve finally decided what you’re having for lunch.
You are free to make your choices,
Make sure to keep it that way.
Choice matters, cash matters