Is cash really still King?

For years, more stores are no longer accepting cash as payment and it’s easy to see why, with 94% of transactions in 2024 being digital. They’re also not obligated to either.

In 2023, the Reserve Bank of New Zealand found cash usage for everyday purchases had decreased from 95.8% in 2019 -- to 57.2% that year. 

Apparently just 8% of New Zealanders were regular or daily cash users. 

But today, the Reserve Bank’s opened public consultation on a proposal that would force banks to set up hundreds, if not thousands, of additional ATMs and branches to make sure people have access to cash.  

Today on The Front Page, NZ Herald Wellington business editor Jenée Tibshraeny joins us to discuss why cash might be here to stay. 

Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts.

You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network.

Host: Chelsea Daniels
Editor/Producer: Richard Martin
Producer: Jane Yee

Is cash really still King?
For years, more stores are no longer accepting cash as payment and it&rsquo;s easy to see why, with 94% of transactions in 2024 being digital. They&rsquo;re also not obligated to either.
In 2023, the Reserve Bank of New Zealand found cash usage for everyday purchases had decreased from 95.8% in 2019&nbsp;--&nbsp;to 57.2%&nbsp;that year.&nbsp;
Apparently just&nbsp;8% of New Zealanders were regular or daily cash users.&nbsp;
But today,&nbsp;the&nbsp;Reserve Bank&rsquo;s opened public consultation on a proposal that would force banks to&nbsp;set up hundreds, if not thousands, of&nbsp;additional&nbsp;ATMs and branches to make sure people have access to cash.&nbsp;&nbsp;
Today on The Front Page,&nbsp;NZ Herald Wellington business editor&nbsp;Jen&eacute;e&nbsp;Tibshraeny&nbsp;joins&nbsp;us to discuss&nbsp;why&nbsp;cash might be here to stay.&nbsp;
Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts.
You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network.
Host: Chelsea Daniels Editor/Producer: Richard Martin Producer: Jane Yee

Go beyond the headlines with The Front Page, the New Zealand Herald’s daily news podcast. Each weekday Chelsea Daniels unpacks the stories shaping Aotearoa, from what’s happening in our own backyard to global events shaping our future.

Every episode we speak to leaders, experts, reporters, and those living the story, so you get the full picture. 

Subscribe now so you never miss an episode.

Go beyond the headlines with The Front Page, the New Zealand Herald&rsquo;s daily news podcast. Each weekday Chelsea Daniels unpacks the stories shaping Aotearoa, from what&rsquo;s happening in our own backyard to global events shaping our future.
Every episode we speak to leaders, experts, reporters, and those living the story, so you get the full picture.&nbsp;
Subscribe now so you never miss an episode.

Every day, The Front Page takes you behind the scenes of the biggest story from the New Zealand Herald. Hosted by Damien Venuto

The Front Page

Go beyond the headlines with The Front Page, the New Zealand Herald’s daily news analysis podcast. Each weekday Chelsea Daniels unpacks the stories shaping Aotearoa, from what’s happening in our own backyard to global events shaping our future. Every episode we speak to leaders, experts, reporters, and those living the story, so you get the full picture. Subscribe now so you never miss an episode.

Go beyond the headlines with The Front Page, the New Zealand Herald&rsquo;s daily news analysis podcast. Each weekday Chelsea Daniels unpacks the stories shaping Aotearoa, from what&rsquo;s happening in our own backyard to global events shaping our future. Every episode we speak to leaders, experts, reporters, and those living the story, so you get the full picture. Subscribe now so you never miss an episode.

Is cash still king, or should New Zealand go cashless?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e7110852-ee6b-40f4-a0f3-b3fc0031c08b/transcript