New European Commission Strategy: Cash is a public good and must be accepted by retailers
In the European Commission’s Communication on a Retail Payments Strategy, the European Union’s executive has underlined the importance of cash as a public good – stating that “Cash is a means of payment that offers instant settlement in face-to-face transactions, without any technical infrastructure. It is still the only form of money individuals can hold directly. As such, it should remain widely accessible and accepted.” The International Currency Association (ICA), which represents the global currency sector, welcomes this statement, which follows on from the ICA’s submission to the EU’s retail payments consultation in June 2020.
ICA Press Release European Commission Retail StrategyDownload the PDF
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