The use of digital payment methods continues to increase, particularly for small amounts. In tandem, cash withdrawals and the number of small-denomination banknotes in circulation have declined. Fast payments reached new heights and are a prominent driver of the digitalisation of countries’ payment ecosystems. Even so, consumers continue to use cash to pay at home and abroad: both cross-border card and e-money payments and cross-border cash withdrawals increased sharply in 2022.

This information was gathered from the Bank for International Settlements