In some countries physical cash still rules, despite the introduction of many digital payment methods.
Merchant Machine has taken an in-depth look at payment methods of different countries around the world to find the nations where physical cash still takes precedence.
|
Rank |
Country |
Cash Transaction (%) |
Population Unbanked (%) |
No. of ATMs per 100,000 adults |
|
1 |
Romania |
78% |
42% |
64.44 |
|
2 |
Egypt |
55% |
67% |
20.07 |
|
3 |
Kazakhstan |
60% |
41% |
85.94 |
|
4 |
Bulgaria |
63% |
28% |
94.33 |
|
5 |
Ukraine |
60% |
37% |
96.3 |
The full list:
-
Romania
-
Egypt
-
Kazakhstan
-
Bulgaria
-
Ukraine
-
Morocco
-
Philippines
-
Peru
-
Hungary
-
Vietnam
With over 70% of payments made in cash, Romania has been revealed as the country most reliant on physical cash. Nearly half (42%) of the Eastern European country population is unbanked showing that many of the citizens still cling to notes and coins.
In Norway, on the other hand, only 3% of transactions are made in cash. Whilst there are only 31.6 ATMs per 1000 adults, the research found that 100% of the population own a bank account.