While the war on cash rages on, central bank experts are not convinced that a cashless future is on the horizon.
Vaultex, one of the UK’s largest cash processors, tapped into the expertise of of 37 central banks around the world to gain a global perspective on cash usage, cash management challenges, and non-cash payment methods.
In your opinion, what will be the main payment method by 2030?
- 70% said cash
- 15% said mobile
- 6% said debit cards
- 6% said credit cards
In your opinion, how long will cash remain an important method of payment in your country?
- 41% said cash will always remain an important form of payments
- 20% said 20 years
- 18% said 10 years
- 15% said 50+ years
- 6% said 5 years
Our survey, combined with these additional facts and figures, shows that cash will continue to play a vital role in economies all around the world – with 70% of respondents indicating that cash will still be the main payment method in their country in 2030.
The report looks at a number of topics including what central banks believe some of their main cash challenges will be in the years to come; how cash processing costs might be reduced; and whether non-cash payments, such as cryptocurrencies, will become common in the future.