In a world where the latest eWallets and Buy Now Pay Later schemes dominate the headlines, you might think cash is a thing of the past.

But once again, media reports and new research from the past year proves that cash is holding its ground in surprising ways. In fact, cash is helping consumers solve some very modern problems.

It’s a fascinating story of resilience, adaptability, and relevance.

Let’s look at why cash still hasn’t been killed by electronic payments and revisit some of the pivotal points over the past year. Based on these facts, we’ll examine the important role cash will continue to play in 2025 and make some cash predictions for the coming year.

There are two sides of the cash coin – the consumers who want to spend it, and the organisations or shops that accept it. Let’s take a look at both.

Let’s get one thing straight. Nobody is predicting that cash will once again rule in terms of transaction volumes over electronic payments.

The Money in Motion 2024 report by PayComplete underscores cash’s enduring relevance, particularly with hybrid payment strategies where cash and digital payments coexist and compliment one another.

From an organisational perspective, accepting cash is not just about tradition, it’s about meeting customer needs across diverse demographics.

According to PayComplete’s Cash Chasm Report,businesses continue to use and accept cash due to it being a reliable payment method for specific customer demographics and industries, especially in instances where electronic payment methods may not be preferred or practical.

However, despite its reliability, the report highlights a significant gap: many organisations handling cash continue to rely on outdated management systems, resulting in inefficiencies and elevated operational costs.

In organisations whereby 3-5 people handle cash, 20% of the value of cash is lost due to discrepancies and low levels of automation in cash handling and processing. This lack of awareness of more technologically advanced ways of managing the cash is likely to be behind the move to cashless payment strategies in recent years.

By adopting modern tools and reevaluating cash management practices, organisations can enhance efficiency while aligning with consumer payment preferences.

With a staggering 2 billion people lacking a bank account worldwide, cash remains a critical lifeline for financial inclusion, providing access, and empowerment where digital systems fall short.

According to PayComplete’s provocative report Why Won’t Cash Just Die??, cash continues to play an incredibly vital role, with 90% of consumers listing it as their most-used payment method, and 69% admitting to carrying it regularly.

Notably, even among Gen-Z, 29% prefer cash, debunking the myth that the physical currency only appeals to older generations.

For many, cash offers tangible security and privacy that digital alternatives just can’t replicate. Half of consumers express great unease around the data organisations collect, with 81% turning to cash to minimise data sharing.

Beyond security, 62% believe that cash is essential in teaching children financial literacy, reinforcing its value as more than just a payment method.

The Covid-19 pandemic may have accelerated contactless payments – with 79% transitioning for hygiene reasons – but it also highlighted the divide between the tech-savvy and those dependent on physical currency.

It’s no argument that cash remains indispensable – offering inclusion, control, and reassurance in an increasingly digital world.

In other cash-related developments, news broke that governments and regulators are beginning to legislate to protect public access to cash and its role in financial inclusion.

Australia is set to implement legislation mandating compulsory cash acceptance by 2026, ensuring that cash remains a viable payment option for all citizens.

Similarly, the UK has introduced new Access to Cash regulations, requiring banks to ensure free access to cash withdrawal and deposit services within a reasonable distance of consumers and businesses. This legislation aims to protect vulnerable populations and support communities where digital payments may not be feasible.

These measures reflect a broader understanding of cash’s role as a financial lifeline, especially for those without access to digital infrastructure.

By enacting these policies, governments are creating a foundation for hybrid payment ecosystems that serve diverse needs, blending tradition with innovation.

In 2024, we also saw a wave of innovative solutions that demonstrated how technology can rejuvenate physical cash and prove it can thrive in an efficient, digital-first world.

Revolut revolutionised cash access in Spain with the rollout of branded ATMs, blending sleek design with strategic placement for maximum convenience.

These innovative machines even featured facial recognition technology, allowing users to withdraw cash effortlessly, without the need for a card on PIN.

Let’s face it, managing cash in a world that’s largely digital payments will still create headaches in 2025.

While hybrid payment systems offer the promise of inclusivity, serving both cash-dependent and digital-first populations, implementing these systems is far more complicated than it sounds.

The primary roadblock? Outdated infrastructure.

Many businesses are still reliant on clunky legacy systems that make integrating cash and digital payment processes cumbersome and inefficient.

Upgrading these systems can come with hefty costs, creating barriers for smaller organisations in particular.

This friction not only frustrates businesses but risks alienating consumers who rely on cash for financial security or accessibility.

PayComplete’s robust software is designed to work seamlessly with these legacy systems, offering an agnostic solution that eliminates the need for costly overhauls.

Governments and technology providers must collaborate to support organisations in modernising payment systems, whether that be through technological innovation or streamlined cash management tools.

The challenge is clear: How can organisations create seamless payment experiences that accommodate everyone, without neglecting one group or overburdening the other?

Addressing this will be critical for 2025 and beyond, ensuring no one is left behind in the evolution of payments.

Nobody is suggesting that cash is going to somehow replace electronic payments, but cash is expected to account for 10% of global POS transactions in 2025 according to eMarketer.

All the evidence clearly shows that consumers will continue to demand cash and strong negative emotions are being stirred against brands that are trying to impose cashless strategies on customers.

So what cash-related headlines can we expect in 2025 and crucially, how will organisations adapt their strategies to cope with the fact that cash simply refuses to die?

As technology continues to revolutionise industries, its impact on cash management is undeniable.

With breakthroughs in AI, biometrics, and IoT, businesses and consumers are reaping the benefits of smarter, more efficient processes. These innovations are bridging the gap between cash and digital payments, making cash handling as seamless and secure as ever.

AI and biometrics are at the forefront of this transformation. In Spain, AI-powered biometrics ATMs with facial recognition technology have turned sci-fi dreams into a reality, allowing users to withdraw cash with just a smile. Fingerprint scanning is also gaining momentum offering faster, more secure, and hassle-free transactions.

IoT-enabled cash management tools are equally game-changing. They provide real time visibility into cash flow and storage, enabling businesses to optimise operations and reduce inefficiencies. Automated cash handling systems take it a step further, slashing operational costs and minimising human error, firmly bringing cash management into the 21st century.

Even traditional banknotes are evolving. Advanced security measures like holograms, microprinting, and colour-shifting ink are keeping physical cash secure and relevant in a high-tech environment.

These technological strides ensure that cash not only survives, but thrives, proving its adaptability and enduring importance in a hybrid payment ecosystem.

Over the past few years, corporate understanding and compliance with Environmental, Social, and Governance (ESG) principles has grown hugely. Consumer expectation is that all companies of a certain size will at least claim to abide by such ethics. The factors that comprise ESG are constantly evolving and we predict that physical cash acceptance will become a staple of future ESG policies.

According to PayComplete’s Why Won’t Cash Just Die?? report, 68% of consumers believe cash is the most socially inclusive way to pay, particularly for unbanked or underbanked populations.

Cashless strategies might seem like a step towards modernisation, but it risks alienating key consumer groups and undermining social inclusion efforts.

PayComplete’s research found that 57% of consumers view cash acceptance as a sign of an organisation’s dedication to serving all members of society.

Cashless brands risk looking like they simply don’t care in 2025.

In the past, decisions like outsourcing call centres to lower-cost countries were initially seen as a smart move to cut costs. Yet, many businesses quickly realised that these strategies damaged customer satisfaction and harmed their brand image.

This scenario is now playing out with cashless strategies.

Despite improving customer satisfaction being the number one priority (36%) for organisations, like giving them the choice to pay with cash, nearly half (47%) of customers believe that organisations are putting profits ahead of customer satisfaction.

Much like the backlash experienced with call centre outsourcing, going cashless without considering the broader associations consumers have with cash (as well as the social inclusion element discussed previously) will create brand damage in 2025.

Organisations must evaluate the impact of their payment strategies on customer experience, ensuring they maintain the right balance between innovation and inclusivity.

The refusal of consumers to let cash die and backlash against cashless strategies will see organisations re-assess their approach to cash management at C-suite level.

In 2025, we will see a growing awareness of CashTech among executives with responsibility for operations, brand, technology, and financial performance.

CashTech is the integration of advanced technology with cash management processes to create payment systems that are smarter, safer, and more inclusive.

Basically, it’s making cash management digital as far as possible, and a far more efficient process.

The Open API Integration is just one example, allowing seamless communication between cash management systems and other payment platforms, creating a truly hybrid payment ecosystem. And its real-time monitoring and fraud detection tools enhance security while giving businesses greater peace of mind.

With advancements like these, the future of cash isn’t just secure, but downright inspiring.