Nigeria recorded the steepest decline in cash transactions to surpass six cash-reliant economies in the past decade thanks to the rapid adoption of digital payments and rising fintech partnerships, according to a report by global payment processing company Worldpay.
From 2014 to 2024, cash transactions in Nigeria fell by 59%, the largest drop among the seven major economies analysed. The Philippines followed with a decline (43%), while Indonesia (44%), Mexico (41%), Japan (31%), Germany (24%), and Colombia (22%) also saw drops in cash usage.
Read more at Techcabal
From 2014 to 2024, cash transactions in Nigeria fell by 59%, the largest drop among the seven major economies analysed. The Philippines followed with a decline (43%), while Indonesia (44%), Mexico (41%), Japan (31%), Germany (24%), and Colombia (22%) also saw drops in cash usage.
Read more at Techcabal