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Here are the top cashless countries in the world

Prime Minister's demonetisation move has divided the top economists in and outside the country over its unquantifiable outcomes, at least for now. But, the debate whether India can really transform itself into a cashless economy or less cash economy - as government terms it - is refused to die down.

BT Online   New Delhi     Last Updated: December 29, 2016  | 16:55 IST
Here are the top cashless countries in the world

India is a country where 98 per cent of total economic transactions by volume are done through cash. However, this may no longer be the case in future as the government has already steered the country towards cash less society.

Prime Minister's demonetisation move has also divided the top economists in and outside the country over its unquantifiable outcomes, at least for now.

But, the debate whether India can really transform itself into a cashless economy or less cash economy - as government terms it - is refused to die down.

While the jury is still out, we bring you a list of the most cashless nations in the world, based on the percentage of cashless transactions.



ALSO READ: Demonetisation impact: Note ban plays party pooper

TOP CASHLESS COUNTRIES

COUNTRIES

CASHLESS TRANSACTIONS

1-Singapore

61%

2-Netherlands

60%

3-France

59%

4-Sweden

59%

5-Canada

57%

6-Belgium

56%

7-United Kingdom

52%

8-USA

45%

9-Australia

35%

10-Germany

33%

11-South Korea

29%

12-Spain

16%

13-Brazil

15%

14-Japan

14%

15-China

10%



India

2%

Source: Mastercard Advisor's Measuring progress toward a cashless society


 

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