Tuesday, July 6, 2021
Bruce Renard, executive director of the National ATM Council Inc., applauds the UK's undertaking, noting that cash is the only means of commerce for millions of consumers in England and America. "Great Britain has recognized the critical importance of assuring continued universal access to cash for the very same sound policy reasons that apply here in the U.S.," he said. "And, notwithstanding growth in digital payments, a very significant number of financial transactions for the entire populations of both nations continue to be done in cash."
George Sarantopoulos, NAC chair and founder and chief executive officer of Access One Solutions Inc., agreed that cash fills economic gaps, especially during times of crisis. "Despite the billions spent on network security, recent hacks exposed vulnerabilities in critical infrastructure," he said. "Last time I checked, paper money is still un-hackable; from everyday disruptions all the way to national and weather emergencies, cash continues to work."
Acknowledging increasingly strident efforts on both sides of the cash debate, British government leaders conceded that cash remains the second most frequently used payment method and serves as a symbol of independence for elderly and vulnerable populations.
"Responses to the government's Call for Evidence on Cash and Digital Payments in the New Economy highlighted that cash is important as a symbol of independence, as well as an important budgeting tool, and is a way to help elderly or vulnerable people access social opportunities," they wrote. "These findings were reflected through the government's Call for Evidence on Access to Cash in 2020."
UK government leaders also expressed hope that public and private sectors can collaborate to maintain a sustainable, cash-inclusive financial infrastructure in the United Kingdom to ensure cash access through cost-effective, efficient, innovative and competitive channels.
Renard observed that the same principles apply in the United States as independent ATM deployers continue to deliver cash access to inner city and rural communities across America. "The marketplace has worked very well in the U.S. to provide broad based cash access for all citizens," he said. "Accordingly, one of the most proven and best ways to keep cash access widely available across the US is to make sure we have fair, balanced, and well formulated national, state, and local public policies in place that encourage stability, continued growth, and innovation in the U.S. independent ATM sector."
Matt Phillips, vice president, head of financial services at Diebold Nixdorf UK and Ireland, called the UK cash impact assessment a welcome development that will ensure cash access to people and businesses and protect the future. "The pandemic and recent branch closures have naturally seen some services reduced in certain areas, so it is critical we act now to ensure communities have access to cash as and when they need it," he said.
Phillips additionally noted that Diebold Nixdorf research found more than 50 percent of the public use cash weekly, which reinforces its importance as an everyday necessity. Technology and manufacturing sectors are offering new, innovative ways of ensuring that customers have abundant payments options, he noted, adding that Diebold Nixdorf recently completed a beta test with a High Street bank that facilitated a range of banking services, including cash withdrawals and deposits of up to £450 at different locations beyond ATMs.
"The partnership has created a network of locations that offer banking services at the convenience of the customer," Phillips said. "With the branch network reduced, the industry must encourage and support innovation that preserves our customers' access to cash services when and where they need them." 
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