Romania revealed as the country most reliant on physical cash, survey says

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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:

  1. Romania

  2. Egypt

  3. Kazakhstan

  4. Bulgaria

  5. Ukraine

  6. Morocco

  7. Philippines

  8. Peru

  9. Hungary

  10. 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.

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