Cash usage decreases as confidence in banks rises – research

Currency

The use of cash for retail payments increases with concerns for privacy and decreases with higher confidence in banks, according to new research included in the Monetary Authority of Singapore’s latest Macroeconomic Review

“Our findings may help to explain the continuing persistent use of cash in retail payments, particularly in societies where people are very concerned about privacy where people lack confidence in banks,” authors Ivan Png and Charmaine Tan say, both of the National

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