Cash Usage Still High

The ratio of cash in circulation to GDP increased across major markets, although there were some exceptions such as Nordic countries including Sweden. Based on current usage patterns, cash is expected to remain a significant payment instrument in the near future, even in markets that offer advanced digital payments. Cash continues to be attractive because it provides multiple benefits to the payer, including anonymity and being free of charge.

Cash-in-Circulation As a Percentage of GDP in the U.S., U.K., Sweden, and Eurozone (%), 2010–2014

Cash-in-Circulation As a Percentage of GDP in the U.S., U.K., Sweden, and Eurozone (%), 2010–2014

Source: Capgemini Financial Services Analysis, 2016; Bank for International Settlements Red Book, 2014 figures released December 2015