A new MasterCard study, “The Cashless Journey,” tracks how 33 major economies are progressing from cash-based to cashless societies. The report, produced by MasterCard Advisors, identifies new technologies, government programs and consumer preferences as key factors that are driving this shift, creating more productive and inclusive economies. View the full press release and download the report.
Today, more than 85% of all global retail transactions are still done with cash, despite the fact that much of the world’s population has access to many different options for making payments. Research has shown there are significant benefits that come with a more cashless society, including increased economic growth and greater financial inclusion.
The study provides a roadmap for how economies just starting out in their cashless journey can determine the best path forward to accelerate their efforts toward cashless societies. For all the information related to the Cashless Journey, please visit our digital press kit.