SPONSORED CONTENT presented by Giesecke+Devrient
Author: Jim Petit, President of Currency Management Solutions at Giesecke+Devrient America
As digital payments expand, cash remains critical for fairness, resilience, and national security. Banks of all sizes play a vital role in ensuring access to cash, with cash remaining a foundational element of a stable and accessible economy. Recent federal legislation reinforces the importance of protecting cash as a payment choice in the U.S. With G+D solutions, banks can future-proof their cash strategies.
In today’s payments landscape, digital wallets, contactless taps, and cryptocurrencies dominate the conversation. For many, it feels as if the world is rapidly leaving behind physical currency in favor of sleek mobile apps and algorithm-driven financial systems. Yet beneath the headlines, cash remains a vital pillar of the U.S. economy and a safeguard for millions of Americans. Far from being a relic of the past, cash is a bedrock of national security, community resilience, and financial inclusion, especially for banks that serve the unbanked, underbanked, and vulnerable populations who may otherwise be excluded from the modern payment ecosystem.
Federal lawmakers are beginning to recognize this reality through proposed legislation like the Payment Choice Act and the Safe Access to Cash Act1, both of which underscore the urgent need to preserve and protect access to cash. At Giesecke+Devrient (G+D), we view this legislative momentum as an essential step toward ensuring a balanced payments environment, one that respects innovation while safeguarding consumer choice, fairness, and resilience in the face of disruption.
Understanding Today’s Cash Access Challenges
In recent years, a troubling trend has emerged: merchants increasingly refuse to accept cash. The move toward cashless operations accelerated during the pandemic, when health concerns and contactless payment preferences seemed to justify eliminating physical currency at checkout2. Yet even after public health risks subsided, many retailers continued these cashless policies. This shift disproportionately impacts those without access to digital banking or credit. According to the Federal Reserve’s Economic Well-Being of U.S. Households in 2024 report, approximately 6% of adults remained unbanked3, relying heavily on cash to participate in commerce. For these individuals, “card only” signs are not just inconvenient; they are exclusionary.
At the same time, the physical infrastructure that supports cash is in decline. Banks and other financial institutions, particularly those in rural and underserved areas, continue to consolidate, leaving fewer local branches where residents can access banking services. The ATM network, another cornerstone of cash access, is also under pressure. While bank-owned ATMs enjoy robust legal protections, non-bank or off-premises ATMs often do not. This regulatory gap exposes consumers and operators to heightened risks, from robbery to service disruption, and weakens confidence in the accessibility of cash.
Layered on top of these trends is the systemic vulnerability of relying solely on digital payments. Cyberattacks, power outages, and natural disasters have all demonstrated the fragility of digital-only systems. In moments of crisis, when internet or card networks fail, cash consistently proves its resilience. During hurricanes, wildfires, and major blackouts, communities have turned to cash as the only functioning form of payment. National security experts warn that larger-scale threats, such as an electromagnetic pulse (EMP) attack, could instantly render electronic payments useless nationwide. Without a functioning cash ecosystem and infrastructure, communities would be left unable to transact, leaving the economy paralyzed when stability is most needed.
Why Cash Still Matters for Banks
For banks, the case for maintaining and strengthening cash access goes beyond tradition, as it is a matter of mission, equity, and trust.
First, cash ensures fairness and inclusion. Reward programs tied to credit cards may sound appealing but often function as a “reverse Robin Hood” mechanism, where costs are distributed across all consumers while benefits flow disproportionately to select groups. By contrast, cash levels the playing field. It provides every consumer, regardless of financial standing, the ability to participate in commerce without hidden fees or exclusionary policies.
Second, cash supports community resilience. When local economies are hit by natural disasters, cyber disruptions, or infrastructure failures, cash continues to circulate. It empowers households and small businesses to maintain economic activity when digital systems go dark. For banks that see themselves as stewards of local stability, supporting cash is not simply a matter of convenience but of ensuring that communities can function in times of hardship.
Third, cash is essential to national security. Legislators, regulators, and industry advocates increasingly point to cash as a critical fallback during emergencies. Senator John Fetterman, a co-sponsor of the Payment Choice Act, made the case succinctly4: “If you’re open for business in America, you should take U.S. dollars.” Ensuring that the physical cash system remains strong and accessible is not merely an economic issue; it is a defense strategy against both localized and large-scale disruptions.
Fourth, cash offers financial discipline and privacy in an era of constant digital tracking. Paying with cash provides a tangible connection to spending, making households more mindful of budgets and reducing impulse purchases. At the same time, it safeguards consumer privacy by avoiding the data trails that digital transactions leave behind. For many, this sense of privacy and control remains highly valued.
Finally, cash enhances trust in local institutions. Banks with strong local and regional ties are uniquely positioned to advocate for and maintain access to cash. By doing so, they reinforce their role as trusted anchors in the financial lives of their customers.
Federal Legislation Aiming to Protect Cash
Federal bills like the Payment Choice Act and the Safe Access to Cash Act highlight the growing recognition of cash’s importance.
The Payment Choice Act requires businesses that accept in-person payments at physical locations to accept cash for transactions up to $500. Importantly, it prohibits merchants from imposing surcharge pricing for cash and requires businesses that cannot accept cash directly to provide fee-free devices for converting cash into prepaid cards. In a bipartisan show of support, the bill has sponsors from both sides of the aisle, reflecting its broad appeal as an issue of fairness and consumer rights.
The Safe Access to Cash Act takes aim at ATM crime and regulatory inconsistencies. It ensures that all ATMs, whether on-premises, off-premises, independent, or bank-owned—receive the same legal protections under federal robbery statutes5. This closes critical loopholes and strengthens public trust in ATM access as a safe and reliable cash source.
Together, these bills align closely with the mission of banks protecting inclusion, fairness, and resilience. They underscore the principle that in the United States, access to legal tender should never be optional or dependent on geography, income, or the business model of a retailer.
Giesecke+Devrient’s Role in Strengthening the Cash Ecosystem
While legislation can help, preserving cash access also requires innovation and operational excellence. That is where Giesecke+Devrient plays a significant role. With over 170 years of expertise in secure currency solutions and a strong U.S. presence, G+D helps financial institutions modernize and safeguard every stage of the cash lifecycle.
Our solutions are designed to make cash operations more efficient, more sustainable, and more resilient. Scalable cash cycle solutions allow banks of all sizes to automate and strengthen their infrastructure, whether at the branch, ATM, or cash center level. Intelligent automation minimizes manual processes, reduce costs while improving accuracy and reliability. Our digital forecasting and management platforms provide real-time insights and optimized forecasting, ensuring that banks can balance cash supply and demand with precision, avoiding costly shortages or idle reserves.
Equally important, G+D delivers service excellence through U.S.-based experts who provide both remote and on-site expertise. From system installation and maintenance to optimization and training, our teams ensure that cash infrastructure remains robust and future-ready. At the same time, our focus on sustainability and efficiency means that our solutions not only lower costs but also support environmental, social, and governance (ESG) goals, helping institutions reduce their carbon footprint while maintaining resilient cash operations.
For banks navigating a rapidly evolving financial landscape, G+D offers a trusted partner committed to both innovation and stability. By integrating our advanced solutions, banks can ensure that their communities retain reliable access to cash while also preparing for the future of payments.
A Call to Action for Banks
The path forward is clear: banks must take an active role in advocating for and investing in cash access. This begins with supporting federal legislation like the Payment Choice Act and the Safe Access to Cash Act, which codify protections for consumers and reinforce the role of cash in the economy.
Beyond policy, banks can play a crucial role in educating customers about the benefits of cash—highlighting its role in budgeting, privacy, and resilience. In doing so, they can counter misconceptions and ensure that consumers view cash not as outdated but as complementary to digital methods.
Investing in innovation is equally vital. By partnering with G+D, banks can modernize their cash operations, reduce costs, and enhance reliability. From intelligent automation to digital forecasting, these tools ensure that institutions are equipped to meet both present and future demands.
Finally, banks must continue to champion balanced payments. In an increasingly polarized payments environment—where some advocate for a fully cashless future and others resist digital entirely—the right path lies in choice. Consumers should never be forced into one method at the expense of another. A balanced ecosystem, where both cash and digital payments thrive, is the most inclusive, secure, and resilient model for the United States.
Banks, with their local presence and deep trust among customers, are uniquely positioned to lead the way in preserving this essential resource. By supporting legislation, educating consumers, and investing in modern solutions, they can ensure that cash continues to play its indispensable role in America’s payment ecosystem.
At Giesecke+Devrient, we believe in freedom of choice in payment transactions. Our solutions are designed to uphold key values like trust, stability, and inclusion, while also harnessing the benefits of digital innovation. Together, we can safeguard the future of cash—not as nostalgia, but as necessity. By combining innovation with resilience, fairness, and trust, we can guarantee that cash remains a reliable, inclusive, and enduring part of the nation’s financial system for generations to come.
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References:
1: https://www.atmmarketplace.com/articles/move-over-crypto-cash-legislation-is-coming-to-congress/
2: https://www.nascus.org/2025/07/24/legislation-requiring-cash-acceptance-faces-an-uphill-battle/
5: https://www.congress.gov/bill/119th-congress/house-bill/1631/text
