
Post-pandemic remote payments show no signs of slowing down, with countries like Norway and Finland moving towards eliminating cash. It is difficult to estimate how many countries in the world have switched to cashless payments and to what extent, as this data depends on the availability of information and access to new modes of transactions.
Norway has zero percent of the population without a bank account, which means that every citizen has access to banking services. Only two percent of payments in the country are made in cash. With 32 ATMs per 100,000 people, Norway is one of the countries most likely to become a cashless society.
Finland records similar data to Norway, with zero percent of the population without a bank account and 37 ATMs per 100,000 people. The Bank of Finland estimates that the banknotes will not be in use until the end of 2029.
While Sweden, the first country to issue banknotes, is already one of the leaders in the use of payments directly from the phone, accounting for about 20 percent of transactions. Currently, only one percent of payments in the country are made in cash. As in Norway and Finland, zero percent of the Swedish population is without a bank account.
Although a large part of the Chinese population relies on physical money, the government launched a digital currency experiment in 2020, which was so successful that China is expected to abandon cash in the near future. Foreign visitors can now pay through the Alipay and WeChat apps, without the need for a Chinese bank account.
New Zealand has 54 ATMs per 100,000 residents and only one percent of the population does not have a bank account. However, the cyclone that hit the country in February revealed the dangers of this process, as ATMs and payment services were destroyed. This situation forced the central bank to reconsider the importance of physical money in society.
On the other hand, countries like Morocco still rely heavily on cash, even though 84 percent of the population has access to the Internet. About 71 percent of residents do not have access to banking services, which affects the large number of physical payments. In Europe, Romania is the leader in cash transactions, with 78 percent of all payments, while 42 percent of the population is not included in the banking system.