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Cash has no substitute: It is inclusive and the original instant payment

It gives freedom of choice to consumers, cuts across economic status and geographies

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4 min read Last Updated : Jul 30 2023 | 10:01 PM IST

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When we published the India Cash Vibrancy Report in May this year, I was often asked: "How does cash usage continue to grow?" Let me explain. We launched the CMS Cash Index in 2016 to track the infusion of cash back into the economy. Since then, it has shown that cash co-exists with digital payments.

This holds true in many countries.

One key reason why Germans prefer cash is their concern for privacy and having control over spending. High installation costs for digital payment apps and processing fees resulted in a preference for cash in Japan. Even in Europe, where

Topics : cash holding Payment consumers

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