The PYMNTS.com Global Cash Index - Q2 2016
Cash Use Index: The Western Europe Edition
People use cash to pay for goods and services in almost every country. It is the most widely accepted method of payment and also accounts for most transactions, by number, in many countries. People also use cash, particular large denomination bills, as a store of value.
The PYMNTS Global Cash Index™, in collaboration with Cardtronics, focuses on the use of cash for making payments and as a payment method that equally plays a role with cards, checks, direct debit, and other methods of settling up between consumers and businesses. Unlike most reported estimates of cash, our proprietary data analysis focuses on the use of cash for making payments rather than hoarding.
This edition focuses on 15 Western European countries—the WU-15—which include Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. Fourteen of these, with Switzerland being the exception of course, belong to the European Union; those 14 account for 89 percent of the GDP of the EU.
€2.1 trillion: Total amount of cash used for payments in WU-15 in 2015.
0.3%: Compound annual rate of increase of total cash use in WU-15, based on weighted average across countries between 2010 and 2015.
0.7%: Estimated compound annual rate of increase in total cash use in WU-15, based on weighted average across countries between 2015 and 2020.
15.4%: Weighted average cash use as a percent of GDP in WU-15 in 2015.
2.3%: Percentage point decline in cash share of GDP in the WU-15 between 2010 and 2015.
1.8%: Estimated percentage point decline in cash share of GDP in the WU-15 between 2015 and 2020.
3.1%: Estimated percentage point annual increase in the GDP for the WU 15 between 2015 and 2020.
€2.2 trillion: Total projected amount of cash used for payments in WU-15 in 2020.
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