NFPS advice: Prepare for a three-day disruption of electronic payments

The advice is issued by De Nederlandsche Bank (DNB), banks, consumer organisations, retail associations, the Dutch Ministry of Finance and other institutions united in the National Forum on the Payment System (NFPS) (in Dutch: ‘Maatschappelijk Overleg Betalingsverkeer)’. It may also help consumers in emergency situations to have a working banking app on their mobile phone. They can use it to transfer money and to send and pay online payment requests. If payment terminals no longer work, this can be a good alternative.

In addition, consumers who mostly make payments at the cash register using their mobile phone or smartwatch are advised to also have a debit card at home or with them. The advice to retailers with a cash register, such as shops, hotels, restaurants, cafés, petrol stations and pharmacies, is to have appropriate fallback options available, such as apps with QR codes. They are also advised to keep enough change to cover three days of system outages.

Resilience advice for payments

The advice to keep cash on hand is part of a 'resilience advice' for emergency situations in the payment system published today by the NFPS, see this pdf. It will be included in the broader advice issued by the central Dutch government under the banner 'Think Ahead', to prepare for multi-day outage situations across society. The NFPS is chaired by DNB.

Geopolitical and cyber threats

The reliability of our electronic payment system is high. However, it's always a good idea to be prepared for emergencies. In November last year, the NFPS announced its intention to explore precautionary measures that Dutch society can take in the short term to achieve a resilient payment system in emergency situations. This initiative was prompted by increased geopolitical tensions and cyber threats that could challenge our payments system.

Nibud calculations

The cash amount of €70 per adult and €30 per child is based on calculations (Dutch only) by the National Institute for Family Finance Information (Nibud). It should be enough to cover the minimum necessary expenses for a period of three days, such as for water, food, medicine, and transportation. Consumers can of course decide for themselves whether the recommended amount meets their needs, or whether they want to adjust the amount according to their own expenses and budget.

Sufficient banknotes and coins

The amounts calculated by Nibud are best held in a mix of euro banknotes and coins, according to the NFPS. Many consumers already keep some cash at home, including for emergency situations. If the cash amount at home is not yet sufficient, it can be gradually built up over a few months by setting aside change from time to time. DNB, Geldmaat and security transport companies have sufficient supplies of cash to meet any additional demand.

Advice for retailers and other point-of-sale establishments

The NFPS also states that there are several measures which point-of-sale establishments can take now to be prepared for situations in which payment terminals do not work. For example, they can make sure they have an additional telecom connection available, from a different telecom provider. Or they can create a QR code that customers can scan to pay an online payment request. Point-of-sale establishments are also advised to be prepared for situations in which customers can only pay with cash in the event of an outage. The NFPS therefore advises retailers to keep enough cash change on hand.

Also check the Q&A for more information.

The Dutch National Forum on the Payment System (NFPS) is a platform of organisations representing providers and users of payment services that work together to ensure a secure, reliable, accessible and efficient payment system for everyone. DNB chairs the platform, which meets twice a year.