A survey by PayPal published in 2017 reveals that cash remains the preferred mode of payment across Asia, even with digitisation growth.
Despite being a primarily motivated with encouraging digital payments, this PayPal study provides insight into the public's entrenched preference for cash.
Key findings include:
- Across Asia, 88% of those surveyed use cash as a mode of payment.
- When asked which payment method they used most often, 57% answered cash, compared to 12% who said e- or mobile wallets and just 1% who cited contactless payments via mobiles.
The first recorded use of paper money was in the 7th century in China. Centuries later, the presence of cash in everyday life continues throughout the region. Across Asia, 88% of those surveyed use cash as a mode of payment.
