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The use of bank notes in Canada for payments has declined consistently for some time, and similar trends are evident in other countries. This has led some observers to predict a cashless society in the future. This paper considers the implications of the abandonment of the use of cash in the...
Persistent link: https://www.econbiz.de/10011926055
This note uses industry data and a unique dataset of small and medium-sized merchants to provide insights into the acquirer-merchant market in Canada. Three main findings are presented. First, smaller merchants pay their acquirer more for every dollar of card payment than larger merchants....
Persistent link: https://www.econbiz.de/10012229878
Persistent link: https://www.econbiz.de/10010256310
Financial technology (Fintech) has prompted authorities to consider their potential financial stability benefits, risks …
Persistent link: https://www.econbiz.de/10012251408
Cash is being used less and less for making payments in many countries, including Canada and Sweden, which might suggest that cash will eventually disappear. However, cash in circulation in most countries, including Canada, has been stable for decades, and even rising in recent years. In...
Persistent link: https://www.econbiz.de/10012053000
Cash is being used less and less for making payments in many countries, including Canada and Sweden, which might suggest that cash will eventually disappear. However, cash in circulation in most countries, including Canada, has been stable for decades, and even rising in recent years. In...
Persistent link: https://www.econbiz.de/10012053139
A well-functioning monetary system is characterized by public and private forms of money that exchange at par as value flows freely between them. This is essential for efficient transacting and contracting in a market economy. A relevant retail public money - whether in the form of cash, a...
Persistent link: https://www.econbiz.de/10014577905
Providing bank notes is one of the Bank of Canada’s core functions. The Bank is therefore interested in whether cash is adequately distributed across society, and this also influences the Bank’s thinking on issuing a central bank digital currency. We provide a perspective on these issues by...
Persistent link: https://www.econbiz.de/10012520249
In this paper, we discuss whether the ability of individuals to convert commercial bank money (i.e., bank deposits) into central bank money is fundamentally important for the monetary system. This is a significant question since the use of cash - the only form of central bank money that the...
Persistent link: https://www.econbiz.de/10012214507
We use a simple model to study whether private payment systems based on bank deposits can provide the optimal level of safety. In the model, bank deposits backed by projects are subject to default risk that can be mitigated by a depositor's ex ante and ex post monitoring. Safe payment...
Persistent link: https://www.econbiz.de/10012388751