Central banks report continued fall in cash usage

Share of cash payments remains high in upper-middle income jurisdictions, but falls marginally overall

The proportion of payments made in cash has fallen again, the Currency Benchmarks 2023 find.

In 2022, cash usage averaged 40.6% in 17 nations whose central banks supplied data, compared with an average of 45.2% in 2021. The decrease represents an average 11.4% year-on-year contraction.

The lowest proportion of cash as a means of payment, 1%, was found in a high income nation in Europe. An upper-middle income jurisdiction in the Americas reported the highest of 93%.

The proportion of cash

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