Cash use declining but more in circulation

  • 04/09/2015
(iStock)
(iStock)

It's coming to the end of Money Week, and we have some jazzy new notes that will come in to circulation soon.

But how much cash are we actually using, and is all this talk of becoming a cashless society actually going to happen?

In fact, cash in circulation rose by 8 percent last year. There's now $5 billion in circulation despite the fact cash use is declining.

New Zealand Bankers' Association chief executive Kirk Hope joined Paul Henry in studio to explain how and why this is occurring.

Watch the video for the full interview.

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