Cash accounts for 90% of consumer transactions in Mexico (PYMNTS, 2018)

Jan. 26, 2018 Share Source

The latest PYMNTS Global Cash Index™ Americas Edition  (a Cardtronics collaboration) reveals that cash is very much still king in the Americas.

Excerpt from PYMNTS Global Cash Index™ Spanish Edition (page 2)

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.

Source

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.


Related Articles

Cash Matters Keeping Cash: Assessing the Arguments about Cash and Crime
Curtailing cash will do little when criminals already make use of a diverse portfolio of payment technologies and types.[...] Increasingly, electronic forms of transmitting and converting value are just as essential, if not more so, in supporting criminal as well as terrorist activities.

Cash Matters In 2016, cash share made up 22.9% of Spain's GDP (PYMNTS, Jan 2018)
Despite the country's decline in cash use, Spain’s cash share in 2016 accounted for 22.9% of the country’s GDP...One of the biggest contributors to the high cash usage in Spain is the country’s large rural population. 

Last Updated: Feb. 27, 2018