We carried out a poll on LinkedIn, asking people when was the last time they paid for something in cash. Only 18% of the respondents answered that they had used cash in the past few days, and 41% said they didn’t even remember when it was.
These results don’t surprise us at all – we see the volume of digital payments increasing continuously on our financial services platform. In 2021, we processed 30.4 billion dollars in financial transactions, 1,300% more than in 2020.
Of course, our poll on LinkedIn is not scientific research, but many studies have pointed out that we are moving towards a cashless economy. A recent report by PwC and Strategy& says worldwide cashless transactions are set to increase by more than 80% by 2025 and almost triple by 2030.
Even before Covid-19, cashless payments were on the increase. And the pandemic further accelerated this trend. So it seems that the old saying “cash is king” will no longer be valid soon.
Do you want to know more about the future of payments? Download our analysis: