Spain Takes a Stand for Choice in Payments
Feb 2, 2022
A new pro-cash initiative in Spain is gathering support for freedom of payment choice and emphasising the irreplaceable benefits of banknotes and coins to the nation’s economy and society.
Plataforma Denaria—or the Denaria Platform—gathers the common interests of companies, institutions, and social groups to serve as a voice for cash throughout Spain, supporting the right to pay using physical money for all goods and services.
Cash is still the most common form of payment in Spain, however with the proliferation of alternative options—driven by profit-making considerations such as the need to acquire and monetise customer data—the platform aims to ensure cash retains its legal status and is preserved as a choice for future generations.
In its mission statement, the Denaria Platform notes cash is a universal, free payment method and a symbol of individual rights and freedom that serves as a pillar of financial inclusion. It also highlights the value of cash to a nation’s infrastructure, since cash will function as an exchange of value during economic or public health crises or during disasters, allowing people to buy essentials and providing vital support for the nation’s economy.
Since data is the new oil, cash is a symbol of freedom. We believe that cash is a public good that must be protected. It is the safest, most democratic, accessible, and equal method of payment and must be protected by European regulators.
The Denaria Platform joins Cash Matters and other global movements in creating awareness for cash, such as America’s Consumer Choice in Payment Coalition and Germany’s Bargeld zählt!, an initiative launched by small and medium-sized enterprise associations.
Cash is an important means to safeguard personal freedom and independence. Cash Matters welcomes all efforts to support cash as a public good and would be pleased to see more national initiatives taking up the cause.
In other Spanish cash news, the Global Currency Forum will take place this year in Barcelona from 2 to 5 May. The future-focused event brings together stakeholders from across the world’s cash industries to showcase innovation and new technologies, share best practices and offer sustainable solutions. It also boasts non-industry speakers, bringing different views, outside perspectives and surprising insights to the forum. More information is available on the event website.