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Cashing in on e-payments to flatten the COVID-19 curve

THE World Health Organization is encouraging countries to take advantage of e-payment systems as an alternative to cash-based transactions. This is to limit the use of cash in making transactions, since cash itself is a potential agent of transfer of the COVID-19 virus. Accordingly, several central banks, including the Bank of England, the Bank of Korea and the US Federal Reserve, have resorted to burning cash or at least mandating banks to sanitize their cash holdings and place them in quarantine for 14 days.