Geldmaat is a collaboration between ABN AMRO, ING and Rabobank and by 2020 will take over all their cash machines. But with so much talk that fewer and fewer people use cash, why have a business like Geldmaat based on what looks like a disappearing market?
Then, the Dutch Bank (DNB) has done research to identify which population groups still pay with cash. Many people have the idea that it is highly-educated people and young people that like to pay electronically. But that is not the case. You see all walks of life have a preference to be able to pay with cash, whatever their background. And, if you look at budgeting, we see that at times when salaries are paid out, the peak times on our ATMs are the greatest.
The second aspect is that the Dutch Bank and the government emphasize that cash must remain available. That is one of our most important tasks: the availability of cash.
Note EU-Digest: presently Geldmaat in some areas of the Netherlands is riddled with technical problems.
Read more at:
Geldmaat and the future of cash | Odgers Berndtson
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