Central Banking

Non-cash payments growth slows

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The World Payments Report 2011, published on Wednesday, announced a 5% growth in global non-cash payments, down from 9% the year before. The total number of non-cash payments in 2009 and into 2010 was 260 billion.

The global use of non-cash instruments, which expanded at a compound annual rate of 6.8% during 2001–09, has "proved resilient to the effects of the financial crisis", said the report. Nevertheless, "macroeconomic weakness did restrain the rate of growth, as the pre-crisis 2001–07

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