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Cashing Out: Economic Growth through Payment Digitisation

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.

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