Do you carry more cash than the average person?
£ in your wallet, pocket or purse
How the World is Going Cashless
Go to $ version
How Much Cash People Carry on Average
Women Carry Less Cash Than Men
How The World is Going Cashless
- Canada
Canada
57% of consumers pay transactions using non-cash methods.
As of January 1st 2013, no more new Canadian bills have been printed.
- Unites States
United States
45% of consumers pay transactions using non-cash methods.
- USA & Canada
USA & Canada
134.2 billion cashless transactions were made in US and Canada in 2013.
- Latin America
Latin America
36.6 billion cashless transactions were made in 2013.
- Brazil
Brazil
15% of consumers pay transactions using non-cash methods.
- Spain
Spain
16% of consumers pay transactions using non-cash methods.
- France
France
59% of consumers pay transactions using non-cash methods.
- Belgium
Belgium
56% of consumers pay transactions using non-cash methods.
In Belgium there is a limit of €3,000 cash payment limit.
- Netherlands
Netherlands
60% of consumers pay transactions using non-cash methods.
- Germany
Germany
33% of consumers pay transactions using non-cash methods.
88% of the German population have a debit card.
- Europe
Europe
91.4 billion cashless transactions were made in 2013
An estimated 121 billion non-cash payments are predicted to be made by the end of 2015, with this number increasing to 177 billion by 2020.
- Sweden
Sweden
59% of consumers pay transactions using non-cash methods.
Four out of five purchases are now made electronically.
- South Africa
South Africa
South Africa and Kenya have the most significantly adopted cashless payment system in Africa.
43% of South Africans and 27% of Kenyans have adopted the cashless system.
- Mature Asia-Pacific
Mature Asia-Pacific
37.5 billion cashless transactions were made in 2013.
- CEMEA
CEMEA
36.3 billion cashless transactions were made in 2013.
- Emerging Asia
Emerging Asia
29.6 billion cashless transactions were made in 2013.
- Singapore
Singapore
61% of consumers pay transactions using non-cash methods.
- Australia
Australia
35% of consumers pay transactions using non-cash methods.
- China
China
10% of consumers pay transactions using non-cash methods.
- South Korea
South Korea
29% of consumers pay transactions using non-cash methods.
South Korea saw the share of cash move from 40% to 25% between 2002 and 2006.
- Japan
Japan
14% of consumers pay transactions using non-cash methods.
Denmark is on the verge of going cashless
Leader of the global trend of a cashless society.
Nearly 40% of it’s population uses Danske Bank’s MobilePay.
-
84.2% of transactions were made using cards.
-
The Danish government has said retailers, restaurants and petrol stations should not be legally bound to accept cash by January 2016.
The Pros and Cons of a Cashless Society
-
Security
The technology used to go cashless can offer potential security benefits such as it’s easier to shut down a remote wallet if it gets stolen and cashless options such as Apply Pay use your finger print which is hard to replicate.
-
Convenience
Going cashless eliminates the need to carry cash and payments can be made with the tap of a card/ smartphone.
-
Losing things
Losing your cash or your credit cards will be a thing of the past.
-
Hackers
Hackers would-be thieves are undoubtedly working on hacking techniques in the anticipation of a cashless future.
-
Failure Rates
Cashless payments options such as Apple Pay, rely on biometrics which are extremely clever but no-where near perfect. -
Technology
If you’re relying on Apple Pay and your phone runs out of battery you wouldn’t be able to pay.
Cashless payment methods
-
-
1. Digital Wallets
An app that can be downloaded onto your phone and linked to your banks account. You can then tap your smartphone onto an accepting card terminal at a checkout. A new example of this is Apple Pay, whilst Google Wallet has been around since 2011. -
2. Contactless Debit Card
Banks now supply contactless debit cards, which allow you to tap your card onto a checkout reader to pay for products. This avoids the necessity of entering your pin number.
-
3. Use Your Phone Number
Some banks now allow you to transfer money to a person, just by using their mobile number. You use your banking app to pay someone without the need for cash or account numbers.
-
4. Transfer via Email
If you and the person you’re sending money to have a Gmail account and Google Wallet, you can now send money as an attachment on their email.
-
5. Prepaid Debit Cards
Allows to uou load funds onto a prepaid card, meaning you can only use the amount of money that you have loaded onto the card.
Brought to you by Choice Loans - Specialists in Merchant Cash Advances
Sources
http://www.mmhayes.com/wp-content/uploads/2013/07/how-much-cash-infographic.jpg http://www.fastcompany.com/3019832/fast-feed/how-much-cash-is-in-your-wallet-probably-less-than-20 http://www.bankrate.com/finance/consumer-index/financial-security-charts-0514.aspx http://www.washingtonpost.com/blogs/wonkblog/wp/2014/05/12/whats-in-your-wallet-probably-not-cash/ http://www.paymentsuk.org.uk/sites/default/files/publication-free/Payments%20UK_UK%20Cash%20and%20Cash%20Machines%20Summary.pdf http://www.bbc.co.uk/news/business-32778196 https://www.theguardian.com/money/2013/aug/19/card-payments-overtake-cash-transactions http://edition.cnn.com/2014/07/02/business/is-a-cashless-society-on-the-cards/ http://www.totalpayments.org/2013/07/08/top-5-cashless-countries/ http://www.cnbc.com/2014/11/20/the-worlds-most-cashless-countries.html?slide=11 http://www.mastercardadvisors.com/_assets/pdf/MasterCardAdvisors-CashlessSociety.pdf http://money.cnn.com/2015/06/02/technology/cashless-society-denmark/ http://www.independent.co.uk/news/world/europe/denmark-moves-closer-to-a-cashless-society-10231995.html http://www.cnbc.com/2015/05/15/this-country-is-trying-to-go-cash-free.html http://fortune.com/2015/05/22/denmark-paper-money/ http://www.hongkiat.com/blog/mobile-payment-systems/ https://www.moneyadviceservice.org.uk/blog/is-cash-on-the-way-out-see-our-top-10-ways-to-go-cashless http://www.moneycrashers.com/biometrics-cashless-society/ http://apecsec.org/cashless-society-pros-and-cons/ http://www.statista.com/statistics/265767/number-of-cashless-transactions-worldwide-by-region/
