The Changing Role of Cash in the Economy

The Changing Role of Cash in the Economy

Sir Mark Boleat

40 years: Executive leadership & banking

The British public is using cash less, preferring to take advantage of new digital payment methods. In this video, Sir Mark Boleat explains trends in the use of cash and analyses issues arising from the move towards a cashless society.

The British public is using cash less, preferring to take advantage of new digital payment methods. In this video, Sir Mark Boleat explains trends in the use of cash and analyses issues arising from the move towards a cashless society.

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The Changing Role of Cash in the Economy

10 mins 53 secs

Overview

The market is changing rapidly. Within a few years many people will carry no cash and many more retailers will not accept cash. The appropriate policy response is to seek to ensure access to cash for those who need it and to help remove the barriers to using electronic means of payment for those reluctant to use them.

Key learning objectives:

  • Understand how the way people pay for goods and services has evolved

  • Understand what has driven the change in the way people pay for goods and services

  • Outline the advantages of digital payments to consumers

  • Understand how LINK has addressed the issue of wholesale cash distribution

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Expert
Sir Mark Boleat

Sir Mark Boleat

Sir Mark Boleat has held a wide range of board level appointments in the UK and Jersey. He is currently the Chairman of LINK, Eldon Insurance Services and the Governors of the City of London Academy Highbury Grove. Sir Mark is also Vice Chairman of the Advisory Board of the International Business and Diplomatic Exchange.

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