Dutch central bank warns about the rise of the cashless society

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No cash here.

The Dutch central bank DNB said on Tuesday it had concerns about the decline in the use of cash, saying the lightning-fast rise in digital payments could lead to vulnerable groups having limited access to goods and services.

While apps and other digital methods of payment are rising in popularity, ‘there is a risk that certain groups of consumers could be left behind and cut out of the payment systems,’ the bank said in a new report.

‘To make sure that everyone can continue to participate, paying in cash must remain an option. At the same time, the accessibility and ease of electronic payment systems should be improved.’

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