Digital Systems Will Drive Globalization & Redefine Competitive Advantage for Nations

Cash continues to be used in ~85% of global consumer transactions

Despite strongly rooted belief in the digital future of businesses, cash is still the king in the vast majority of countries. Even with highly fragmented digital payments market, in 2013, around 85% of all retail payment transactions were still done with cash, equating to 60% of retail transaction value. Furthermore, the most recent estimates suggest that cash continues to be used in around 85% of global consumer transactions. Transactions in cash may be declining around the world, but cash still remains the most commonly used payment mechanism for the vast majority of individuals and businesses.

Even countries with highest rates of cashless transactions still have room to grow: cashless transactions account for