The U.K.: 89%
Netherlands: 85% FORR), mobile payment usage in the U.S. will rise to an estimated $90 billion in 2017 from $12.8 billion last year. "What seems to be overlooked in the policy dialogue is that cash takes time to access, is riskier to carry and costs a country up to 1.5% of its GDP," says Peer Stein, an analyst at the International Finance Corp. "We can't expect the journey from cash toward electronic payments to be completed overnight, yet driven by technological advances and public-private partnerships this trend has gathered significant momentum over the past few years." say there are three types of financial consumers right now:
- Cashless converts: Those who have already readily embraced a largely cashless existence.
- Cashless cautious: Those who have taken first steps toward moving away from cash but still have a ways to go.
- Cashless concerned: Those who still cling fiercely to cash as the default means of payment.