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The Bank of Canada warns against an increased dependence on retail payment networks.





The Bank of Canada warns against an increased dependence on retail payment networks.
The Bank of Canada warns that an increased dependence on retail payment networks might raise concerns about their maintenance and operational reliability. For example, in June more than five million transactions across Europe failed during an unprecedented 10 hour outage at Visa.  To guard against this, the BoC offers three possible policy responses: regulate the critical payment networks to support reliability and mitigate anti-competitive outcomes; retain the obligation to make cash available; and issue a central bank digital currency to compete with the private payment networks.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









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