Global Payments Outlook
Across Europe, cash accounts for 27.4% of all point-of-sale (POS) payments. FIS expects cash use to remain above average in Germany, Italy, Spain and Poland.
In Asia-Pacific, the figure is 19.2%, and FIS foresees it continuing to be the top payment choice in Indonesia, Japan, The Philippines and Vietnam.
Cash accounted for 52.6% of POS transactions throughout the Middle East and Africa. While its share fell from 91% to 69% in Nigeria, FIS anticipates a rebound in 2021.
In North America, the POS transaction share for cash is 11.4%, and FIS forecasts continued losses with cards remaining the top payment choice and additional gains for mobile wallets.
Cash remains the most-used payment option in Latin America, with a 38% share of POS transactions. FIS believes this will decline in the coming years, potentially not seeing the same rebound expected in other markets, with cards lined up to eventually take the top spot.
