Improving digital solutions is the most important thing to ensure safe and easy payments, but cash still has an important role, according to the Payments Committee, which on Friday delivered the committee's report to the Minister of Finance.
Pictured: Chairman Torbjørn Hægeland (right) on Friday delivered the Payment Committee's report to Minister of Finance Trygve Slagsvold Vedum (Sp) at the Ministry of Finance. (Photo: NTB).
“This is about your and my everyday life, but also about the big challenges for all of us, such as the fact that developments in the world make good preparedness more important than in the past,” Finance Minister Trygve Slagsvold Vedum (Sp) said in a statement. press release.
The report states that safe and easy payments should be ensured first and foremost by improving digital payment systems, while taking into account privacy and preparedness. Cash continues to have an important role in ensuring safe and easy payment for all, especially in an eventual emergency situation, the committee believes.
The payments committee was appointed in May last year to make a holistic assessment of the payments field. Among other things, they were asked to assess and make recommendations related to readiness for payments, how to attend to groups that find the digital transition demanding, and what opportunities may lie in new technologies, according to the Ministry of Finance.
The proportion of cash in circulation in modern societies has declined sharply in recent years, but in parallel it has also led to a new interest in the role of cash. In Sweden, too, there is a discussion about the future of cash. The Swedish Government wants to ensure that physical money can still be used to buy necessary goods such as food and medicines.
The debate about cash has also been set in the context of whether Norway and other countries should introduce so-called Digital Central Bank Money (DSP). Critics of the DSP fear that the digitisation of public money could lead to surveillance and reduced privacy. Critics have therefore argued that the population should still be able to choose to use cash.
Improving digital solutions is the most important thing to ensure safe and easy payments, but cash still has an important role, according to the Payments Committee, which on Friday delivered the committee's report to the Minister of Finance.
Pictured: Chairman Torbjørn Hægeland (right) on Friday delivered the Payment Committee's report to Minister of Finance Trygve Slagsvold Vedum (Sp) at the Ministry of Finance. (Photo: NTB).
“This is about your and my everyday life, but also about the big challenges for all of us, such as the fact that developments in the world make good preparedness more important than in the past,” Finance Minister Trygve Slagsvold Vedum (Sp) said in a statement. press release.
The report states that safe and easy payments should be ensured first and foremost by improving digital payment systems, while taking into account privacy and preparedness. Cash continues to have an important role in ensuring safe and easy payment for all, especially in an eventual emergency situation, the committee believes.
The payments committee was appointed in May last year to make a holistic assessment of the payments field. Among other things, they were asked to assess and make recommendations related to readiness for payments, how to attend to groups that find the digital transition demanding, and what opportunities may lie in new technologies, according to the Ministry of Finance.
The proportion of cash in circulation in modern societies has declined sharply in recent years, but in parallel it has also led to a new interest in the role of cash. In Sweden, too, there is a discussion about the future of cash. The Swedish Government wants to ensure that physical money can still be used to buy necessary goods such as food and medicines.
The debate about cash has also been set in the context of whether Norway and other countries should introduce so-called Digital Central Bank Money (DSP). Critics of the DSP fear that the digitisation of public money could lead to surveillance and reduced privacy. Critics have therefore argued that the population should still be able to choose to use cash.
