Cash isn’t disappearing—it's being defended

Cash isn’t disappearing—it's being defended

“The end of cash.” Experts, pundits and consumers have been predicting it for years. Headlines say cash is dead and digital killed it, calling this a natural consequence of supply-and-demand market forces. Those who disagree—“No! Cash is NOT dead!”—reinforce the claim by protesting it without reframing it.

Both sides assume that consumer choice alone determines the fate of cash: if US consumers prefer digital payments, we will see cash going away; if they choose cash, it will stay.

But this assumption overlooks the growing role of public policy in defending cash access. Governmental bodies at the local, state and federal level in the US and around the world are stepping in—not just observing market trends but actively shaping them. Through legislation, infrastructure mandates and constitutional protections, policymakers are intervening to keep cash viable, equitable and available. They are defending cash as a public good.

‍Governmental bodies are stepping in with robust new public policies to protect access to cash, defending it as a public good.‍

From constitutional amendments to ATM mandates, policymakers are beginning to insist that cash plays a vital role in financial inclusion, consumer choice, economic resilience and quality of life. The message is clear: cash isn’t disappearing—it’s being defended.

Guaranteeing the right to pay with cash

Here in the US, the push to protect cash is gaining traction at the state and city level. New York City, San Francisco and Philadelphia have passed laws requiring businesses to accept cash. Similar legislation has been introduced in 18 other US states. At the federal level, the proposed Payment Choice Act would mandate that retailers accept cash for transactions up to $500.

The rationale is rooted in equity. Cash remains essential for budgeting, privacy and avoiding fees—especially for people who don’t have accounts with financial institutions. As digital payments proliferate, lawmakers are recognizing that consumer choice must include the option to pay with physical currency.

Four reasons governments are stepping in

While the reasoning behind these bills varies, they share a commitment to inclusion, resilience and freedom. Whether due to age, income, geography or infrastructure gaps, millions still rely on cash—and non-government associations (NGOs) are responding along with governing bodies.

1. Cash remains essential for those without access to digital tools. Elderly citizens, rural communities and low-income households often rely on cash for daily transactions.
2. To improve digital resilience. Outages, cyberattacks and infrastructure failures have exposed the fragility of digital-only systems; cash provides a reliable fallback.
3. Consumer rights and civil liberties. The ability to choose how to pay is becoming a protected right.
4. ‍Economic equity. Cash supports informal economies, helps people budget and avoids fees. It’s a tool for empowerment, not just convenience.

It’s a trend in the US and around the world

Other countries are also passing laws to protect cash. Ireland has passed a law similar to the US Payment Choice Act called the Access to Cash Act. In Spain, it’s the Cash Acceptance Law. France, Denmark and Norway have longstanding national cash acceptance laws and many other countries have such laws moving through their legislative processes. These policies reflect a growing awareness that digital-only systems can leave people behind—especially rural populations, elderly citizens and those who remain outside the digital financial system—and a resolve to retain cash in the payment landscape.

Hungary has passed an amendment to its constitution protecting the right to pay with cash as a fundamental civic freedom. It requires payment service providers to install and operate ATMs nationwide in appropriate locations provided by local governments.

‍Slovakia amended its constitution to guarantee the right to use cash for goods and services.

‍Austria is considering similar protections following a public petition that garnered widespread support.

Belgium passed the Federal Cash Access Law requiring financial institutions to ensure that ATMs are available within five kilometers of 95% of the population and that they offer access to cash deposits, not just withdrawals.

In Sweden, once a poster child for the cashless future, The Riksbank now advocates for laws requiring supermarkets, pharmacies and fuel stations to accept cash, citing digital outages and public concern.

In developing economies, cash is more than a payment method—it’s a lifeline. Governments in these regions are taking proactive steps to keep cash accessible.

In Kenya, despite the success of mobile money platforms like M-Pesa, over 84% of point-of-sale transactions in Kenya are still conducted in cash. The Central Bank of Kenya (CBK) has advocated for cash infrastructure in rural areas. The goal is financial inclusion, especially for those without smartphones or reliable internet.

Morocco has implemented ATM expansion policies and financial literacy programs to make sure that rural populations can access cash. Surveys show that rural women and low-income groups score lower on financial capability metrics. Cash access is seen as a gateway to broader financial services.

Nigeria reversed a controversial currency redesign and withdrawal limits law in 2023 because it had led to economic disruption, especially in informal sectors. Today Nigeria is increasing cash availability and deploying more ATMs to stabilize its payment ecosystem.

Thailand has embraced digital payments but continues to support cash, especially outside urban centers. Officials cite the need to preserve consumer choice and support tourism and small vendors who rely on cash.

The People’s Bank of China (PBC) has fined businesses—including major chains—for refusing to accept cash, declaring that this violates consumer rights, particularly for elderly and rural populations. ‍

The role of self-service financial access

As governments defend cash, ATM operators and independent deployers are in a unique position to support that mission. ATMs aren’t just hardware—they’re the backbone of cash access in communities where traditional banking is limited or absent.

For ISOs and IADs, this shift in public policy reinforces the value of their networks. By maintaining and expanding ATM coverage, they’re not only meeting consumer demand but also aligning with legislative momentum that views cash as a public good. It’s an opportunity to strengthen their business while supporting financial inclusion and resilience.

A future with freedom of choice

‍The trend of defending cash is not a rejection of digital innovation. It’s a recognition that progress must be inclusive. Cash and digital can work together to offer consumers the freedom to choose what works best for them.

The phrase “cash isn’t disappearing—it’s being defended” captures more than a trend. It reflects a shift in mindset, one that values accessibility, equity and resilience. Governments are leading the charge, but businesses and financial institutions have a role to play, as well, in building a payment landscape that works for everyone—not just those who are digitally connected and financially secure. And that’s a future worth defending.