The Cashless Journey

There are several reasons not to like cash, but ours remains a cash-based world. The "Cashless Journey" project was undertaken to track progress towards cashless economies. The results are sometimes surprising. The journey is usually a gradual trek toward electronic payments shaped by local factors.

Cash accounts for about 85% of global consumer transactions. This remains true even as much of the world's population is acquiring access to a multitude of non-cash options for making payments.

The burden of cash usage on national economies is substantial, representing as much as 1.5% of GDP. Heavy cash usage may also be an indicator of other economic problems.

The "Cashless Journey" study measures nations' progress toward more modern, efficient electronic payment mechanisms by looking at the current share of cash versus non-cash payments for consumers (Share), how this Share has shifted in the past five years (Trajectory) and whether conditions exist for cash payments to move to electronic (Readiness).

Author: Hugh Thomas
Contributors: Amit Jain, Michael Angus


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The Cashless Journey

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