In an interview with The Guardian, the Bank of England's Chief Cashier, Victoria Cleland talks about why people still like using cash how she thinks predictions on the demise of cash are premature.
“There is a slowdown in cash used for consumer transactions,” she says. “But the value of notes in circulation has been increasing year on year for the past decade or so. We are still seeing growth in total demand for cash.”
“Cash is definitely here to stay. That’s why it is important that we in the cash industry invest in it, even though transaction demand is going to slow down.”