In the Americas, cash is still being put to use by a solid chunk of the population, notably among North American nations. In the U.S., for example, it continues to be the most popular method of payment for small-value, everyday purchases.
What’s more, an estimated 24 percent of U.S. citizens make all their purchases using cash...
...PYMNTS research found that roughly half of Mexican households do not have access to a bank account and, as a result, rely solely on cash. The same research estimates that cash use in the country will grow at a CAGR of 20.4 percent between 2016 and 2021.
Key findings include:
- In the U.S., cash usage grew by 4.7% per year between 2000 and 2015.
- Cash accounts for 90% of consumer transactions in Mexico.
- Approximately 80% of Brazilian households have a payment card, which is used for 30% of household purchases.
- The value of cash-based transactions made in the Americas in 2016 is valued at approximately $3.02 trillion.
PYMNTS. 'Global Cash Index™ Americas Edition'. PYMNTS and Cardtronics. Electronically published on January 24, 2018. Accessed January 13, 2018.
About the Index
The PYMNTS.com Global Cash Index™, a Cardtronics collaboration, focuses on the use of cash for making payments and as a payment method that equally plays a role with cards, checks, direct debit and other methods of settling up between consumers and businesses. Unlike most reported estimates of cash, our proprietary data analysis focuses on the use of cash for making payments rather than hoarding.
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Despite the country's decline in cash use, Spain’s cash share in 2016 accounted for 22.9% of the country’sGDP...One of the biggest contributors to the high cash usage in Spain is the country’s large rural population.