Skip to main content

Local and national governments are often strapped by—rather than strapped for—cash.

At first glance, the notion seems counterintuitive. Yet, cash prevalence can cost 3.2–4.5% of global GDP. And with cash representing 85–90% of global transactions, payment digitisation is as important for businesses and consumers as it is for governments.

"Payment digitisation provides the overarching economic foundations to counteract the direct and indirect problems of cash across governments, businesses and consumers."

That’s not to say governments should eliminate cash. The ubiquity, universal acceptance and convenience in handling low-value purchases justify its continued existence. What’s important is to reduce—not eliminate—cash through public–private sector collaboration.

Download the report to learn how to reduce cash dependency to counteract the direct and indirect problems of cash across governments, businesses and consumers.

Download the White Paper

More to Read

Open Banking - Egypt
White Paper
A Global Microcosm: Open Banking in the Gulf States and Egypt

The Gulf Cooperation Council (GCC) member states and Egypt are becoming hubs for financial technology companies (fintechs). And fintech growth is increasingly reliant on open banking. Learn about the variety of approaches to open banking in the region and how they fit into a global context.

Open Banking Vision from the Arab World
White Paper
Open Banking: A Vision from the Arab World

Much of the Arab world is fast emerging as a global open-banking microcosm. This report—co-authored by the MFTA Open Banking Working Group (led by Hakan Eroglu of Mastercard) and the AMF—outlines a five-step framework for open banking in the region.

Mastercard Recovery Insights
Recovery Insights
Chronicles of the New Normal: How Open Banking Can Address New Customer Needs

Let us imagine we are in 2021 and the world has left behind the worst of the COVID-19 pandemic. No doubt life has changed, and governments, companies, and individuals are adapting to a “new normal.”