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Show Me the Money: Cash Remains in Demand

Overview

Date 12:10 PM - 01:00 PM (0 hours 50 minutes)
Tuesday, May 09
Track
Practical Strategies
Event
Remote Connect

Cash remains a critical part the payments ecosystem, but its use case is changing. While cash used for transactions has declined as a percentage of payments during the last few years, demand for cash has increased, with people holding more of it at home during times of uncertainty. With the continued use of cash, the availability of coin as a payment or settlement agent to consumers and retailers remains critical. Yet, the past few years have shown that decreased business investment in coin management has had real-world consequences on the resiliency of the payments ecosystem. This session will address why investing in cash (and coin) makes business sense and why the supply chain needs to maintain its cash-handling infrastructure.   

Speakers:

S
Steve Son
SVP and Head of FedCash Business Solutions and Support
Federal Reserve Financial Services
D
Deirdre Spehar
SVP, Cash & Transportation Services Executive, Global Technology & Operations
Bank of America