National Cash Payment Safety Strategy
On 2nd December 2021, the National Bank of Poland (NBP) adopted and published National Cash Payment Safety Strategy. The Strategy is based on four basic pillars: (i) universal acceptance and availability of cash, (ii) smooth supply of the Polish currency to the market, (iii) cybersecurity of information systems used in the processes of cash supply and, (iv) physical security of banknotes and coins.
As for now, the strategy does not provide for many measures or methods to be applied by Polish authorities. It is an analytical document, which describes the legal, organizational and, regulatory conditions.
Features of National Cash Payment Safety Strategy
According to the National Strategy, the availability and acceptance of cash will be subject to periodic monitoring, including in terms of the effects of implementing the regulations resulting from the amendment to the Payment Services Act, as well as in terms of meeting the cash availability criterion adopted for the purposes of the National
Strategy. Moreover, it is proposed to conduct regular public opinion polls by NBP on the issues in question, as well as to develop a publicly available map of the availability of cash in Poland.
The Strategy can be found at Polish National Bank website.
Questions regarding National Cash Payment Safety Strategy may be directed to our banking law attorneys.