Bundesbank pushes cash with new stickers amid crisis communication concerns
The Bundesbank is promoting cash payments with new stickers, emphasizing its reliability in crises. A recent crisis simulation highlighted the need for improved communication structures, with initiatives like Wero and the digital euro in focus.
The Cash Forum, in a recent crisis simulation, tested scenarios such as a sudden increase in cash demand and total outages of Visa and Mastercard services. The exercise revealed the importance of robust crisis communication structures and initiatives like Wero and the future digital euro.
Burkhard Balz, a Bundesbank executive board member, stressed the significance of cash in the payment infrastructure. He noted that cash works independently of technology, electricity, and the internet, making it reliable during crises. To encourage cash payments, the Bundesbank is launching new stickers with slogans like 'Of course, cash too!' and 'Simple. Cash.' These stickers are available free of charge to retailers through regional trade associations and can also be ordered by private individuals from the National Cash Forum. Notably, neutral, text-free versions of these stickers are provided by consumer protection organizations, although the exact groups offering these specifically for retailers are not explicitly listed.
Cash accounted for nearly half of all in-store transactions in Germany in 2023, underscoring its relevance. The Bundesbank's new stickers aim to further promote cash payments, signaling to customers that cash is welcome and reliable. The recent crisis simulation serves as a reminder of the importance of robust communication structures and initiatives like Wero and the digital euro in ensuring payment stability.
