This statistic is from the Payment Methods Report 2020 from The Paypers.
The fifth edition of The Paypers' annual Payment Methods Report gives an overview of what's new in how people pay in the most significant e-commerce markets, focusing on innovation and the latest trends.
Cash and COVID-19
The report notes the coronavirus pandemic has shifted customer preferences, especially with regard to the use of cards, consumer lending, social commerce, and digital transformation at large. Whether these trends will persist after the pandemic remains to be seen. In the short-term, alongside the immediate challenges presented by COVID-19, small business owners are experiencing particular difficulties with adapting to market conditions in 2020 and 2021, with a move towards more online and cashless purchases cutting profits and—in some cases—resulting in layoffs and closures.