Massachusetts blazed the trail in 1978, making it illegal for businesses to refuse cash payments back when debit cards and credit cards were still rare and digital wallets were the stuff of science fiction.

The media has proclaimed that cash usage is in a downward spiral for at least a decade. But while it's true that more people are using contactless and other digital forms of payment than ever before, the claim that we don't need cash anymore is misguided. If anything, now that the COVID-19 pandemic has sped up digitalisation, understanding the importance of cash is even more relevant and critical if we want to live in a healthy and inclusive society.

Five predictions that will impact how consumers use cash in the next 12 months