FinTechNZ will be taking contributions from members of the Tech Alliance, to The Future of Cash Use submission for the Reserve Bank of New Zealand.
If you would like to contribute to this please contact us for further information and access to the consultation document. We will be taking contributions until 25 July. The schedule as outlined below, for submission by the 30August.
If cash becomes less accepted and available as a means of payment, then the Reserve Bank says that New Zealanders who are already left out of the banking or digital worlds may be severely disadvantaged.
That prospect is one of five key issues in a paper on the Future of Cash Use published by the Bank on its website.
“We see these issues as being about less cash, and not becoming cashless,” says Reserve Bank Governor Adrian Orr. “There’s the real possibility of a contraction in the cash system which could end up affecting lives.”
“We think New Zealand should be making conscious decisions about the future of cash so that we can be prepared for future innovations, and ensure that sectors of society are not unfairly disadvantaged because cash falls out of favour,” Mr Orr says.
Further information and discussion on this issue can be found here:
https://www.rbnz.govt.nz/news/2019/06/whats-the-future-for-cash-in-new-zealand
https://www.rbnz.govt.nz/notes-and-coins/future-of-cash/issues-paper-the-future-of-cash
| Dates | ACTION |
| 1 July | Submission draft open for input from members |
| 25 July | Submission draft document closed |
| 1 August | Draft Submission distributed for feedback |
| 15 August | Feedback closed |
| 26 August | Final Submission closed |
| 30 August | Submission lodged |
