“The Royal Mint will not produce any new £2 or 2p coins for at least a decade, as its stocks remain high because of the slump in use of cash, a trend that has accelerated during the coronavirus pandemic. The rapid decline in demand for coins has left the Mint, which has been producing coins in Britain for more than 1,000 years, with a mountain of excess stock.”

“Cash doesn’t have the status it used to. In fact, some state and local governments are forcing businesses like restaurants and retail shops to continue accepting cash — concerned that cashless businesses effectively discriminate against consumers who do not have bank accounts or credit cards. New York City will require most stores and restaurants to accept cash as of Nov. 19, joining cities including San Francisco; Berkeley, Calif.; and Philadelphia, all of which mandated acceptance of cash last year.”

“The impact of COVID-19 has resulted in the disruption of the supply channels of circulating coinage – the pennies, nickels, dimes, and quarters that the American people and businesses use in their day-to-day transactions. The United States Mint is part of the solution to this issue, but we need your help as well. In normal circumstances, retail transactions and coin recyclers return a significant amount of coins to circulation on a daily basis. However, precautions taken to slow the spread of the virus have resulted in reduced retail sales activity and significantly decreased deposits from third-party coin processors, resulting in increased orders for newly minted coins produced by the United States Mint (Mint).”

“As the spreading coronavirus and resulting business closures crippled economic activity in the United States, the circulation of coins dropped off significantly. The U.S. Mint, which manufactures the nation’s coin supply, also decreased staffing in response to the pandemic.  As the nation’s businesses have reopened, demand for coins has exceeded the available supply.”

“Fears over transmission of the disease have compelled consumers to rethink how they shop and pay. Retailers and restaurants are favoring clicks over cash to reduce exposure for employees. China’s central bank sterilized bank notes in regions affected by the virus. And governments from India to Kenya to Sweden, as well as the United Nations, are promoting cashless payments in the name of public health.”

“Sens. Bob Menendez, D-N.J., and Kevin Cramer, R-N.D., have introduced a bill prohibiting retailers from declining cash payments from customers, as businesses promote “contactless” digital payment as they grapple with the coronavirus pandemic .  Retailers and mall owners, including Nordstrom and Simon Malls, have encouraged the use of contactless transactions such as Apple Pay to minimize the risk of spread in their stores and properties. But the senators warned that should any retailer ban cash entirely, it would be discriminatory at a time when many Americans are facing financial hardship.”

“The U.S. casino industry remains a bastion of cash in an increasingly cashless world, where high-security vaults storing millions of dollars have inspired heist movies and the living-large vibe of Las Vegas is ferried in bags bulging with currency. But the coronavirus pandemic has generated concern over bills circulating among hundreds of hands on the casino floor, and that is pushing casinos toward cashless technology after years of discussion.”

“A broad spectrum of consumer representatives and businesses committed to preserving the right of American consumers to pay with cash has announced formation of the Consumer Choice in Payment Coalition (CCPC). The purpose of the coalition is to advocate for the continued availability of cash as a payment option for consumers throughout the U.S.”

“The Russian central bank already keeps banknotes for up to 14 days before distributing them and is now asking other banks to do the same, Vladimir Demidenko, deputy head of its cash circulation department told Reuters.”

“Despite reports that the World Health Organization was pushing people to use contactless payments, a spokesperson for the WHO tells CNBC Make It it has not issued any warnings or statements about the use of cash. Instead, it reiterated that you should wash your hands, including after handling money, especially if you’re eating or touching food.”

“- Arcus , a leading fintech platform, today announced a partnership with global retail chain 7-Eleven to introduce a suite of modern fintech payment solutions to their mobile app, focused on cash-centric consumers. 7-Eleven is leveraging Arcus’ technology to power a more seamless, integrated payment experience for Latin American customers paying with cash.”

“Right now, there isn’t enough space for the cash that many banks want to hold. Pro Aurum , a Munich-based precious metals trader, received several requests from banks to store notes in its vaults. However, the firm had to turn them down because of a lack of capacity. “The ECB’s negative interest rates make hoarding cash attractive,” said Frank Schaeffler, a German member of parliament with the opposition Free Democrats. “This is just the beginning. If it continues, we’ll see a boom for vault makers and security companies.””

“Americans may soon be able to withdraw cash from ATMs around the country using only their phones. While there are several clear benefits, especially for those without a bank account or debit card, there may also be security risks, according to some experts.   Mastercard and a technology partner, Pin4, have been rolling out a service over the past several months called Mastercard Cash Pick-Up, which gives anyone with a cell phone fast access to cash.”