Is Something Missing From The World Payments Report?
Danielle Fitzsimons | 20 Nov 2018
The World Payments Report from BNP Paribas and Capgemini is in its fourteenth year. It has historically been a reliable and widely quoted source for trending payment methods globally.
Although the report is clear that it seeks to examine non-cash payments specifically, cash payment volumes have historically been included, allowing the reader some perspective on what the non cash figures actually mean. In the end of year report for 2017, the report states that 'despite the increased adoption of digital payments, cash continues to be in the mainstream, especially for low value transactions 'and that 'although the share of cash is declining in total payment volumes in the majority of countries, cash in circulation remains stable or increased slightly over the past five years.'
In the 2018 report, cash is not mentioned.
This obviously doesn't mean that cash is suddenly not used anymore. Or that global volumes have dropped so significantly within a year that cash no longer warrants a mention.
That in itself would warrant a mention, don't you think?
It is unfortunate that financial institutions are adopting the attitude that if they cease to mention cash, its importance will be diminished.
In reality, it just means that this particular report is no longer a source of information on changes (or lack of) in global cash volumes.
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