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July 28 2017

ATMIA Releases New Position Paper on Cash

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In the aftermath of Visa Inc’s contentious current “cashless campaign”, ATMIA has published a position paper entitled “Cash is good for society”. In the new paper, the not-for-profit global trade association looks beyond the war of words waged against cash to the real, underlying role of cash in today’s society.

“The study reminds us that cash remains the number one form of global payment as well as the number one back-up plan when systems fail,” comments Mike Lee, CEO of ATMIA “It also provides a bulwark against cybercrime, a tool for financial inclusion and household budgeting as well as an important asset in the armoury of central banks for ensuring monetary stability and balanced levels of national spending.”

ATMIA has long argued that it is good industry practice to promote payment choice for consumers and merchants alike and for a peaceful coexistence between digital and cash payments to prevail.

“Nobody needs a war on cash,” Lee added, “All we’re asking for is freedom of choice for all.”

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