2 PAYMENT METHOD PROFILES: CASH
Global Overview
U.S. USD
U.K. GBP
Euro EUR
India INR
Mexico MXN
Date Established
circa 800 90
2002 91
1947
1864
1785 89
Removed from Gold Standard
Never Utilized Gold Standard
Never Utilized Gold Standard Central Bank of India
Never Utilized Gold Standard Bank of Mexico (Banxico)
1933 92
1931 93
European Central Bank
Central Bank
Federal Reserve Bank of England xi
Cash % of C2B Spend 94 95 Value of Cash in Circulation # of Countries Accepted C2B Cash Fraud Annually (Counterfeit etc)
7.30%
13.42%
16.16%
46.56%
32.24%
$2,259.3 billion 96
$109.06 billion 97
$1,680 billion 98
$408 billion 99
$164.6 billion 100
8 101
1
20 102
1
1
554,000 banknotes 105
284,614 banknotes 107
Counterfeit note supply $15-30mn 103
$2.53 million 104
$957,600 106
Cash % of Currency in Circulation (M0)
Total Money Supply $20,800 billion, so cash is 10.86% 108
Total Money Supply $4,148 billion, so cash is 2.63% 109
Total Money Supply $17,502 billion, so cash is 9.60% 110
Total Money Supply $3,195 billion, so cash is 12.77% 111
Total Money Supply $937.3 million, so cash is 17.56% 112
Table 2.1 Characteristics
Credit/Debit Functionality Cash is naturally a debit-based product. Some banks offer credit-based cash advances at ATMs.
BillPay/Recurring Payments Cash payments are push payments only. It is not possible to conduct either merchant initiated transactions (MIT) or recurring payments via cash.
xi
Circulation in Scotland and Northern Ireland are different and determined by local banks
46
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