10 most cashless countries in the world

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There is a lot of emphasis on promoting cashless system after demonetization in India. A look at the world’s most cashless countries.

Belgium

At present, Belgium is the most cashless country in the world, where 93% of the total consumer payment is cashless. 86 percent of the country’s population has a debit card. If there is a cash transaction of more than three thousand euros, then there can be a fine of up to a quarter to two lakh euros.

France

In France, 69 percent people have a debit card, although 92 percent of the total consumer payment is cashless. Transactions in cash of more than three thousand euros are not allowed in France.

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Canada

In Canada, 90 percent of the total consumer payment is cashless while 88 percent of the people in the country have a debit card. By the way, Canada has stopped making cents coins since 2013. That is, there is more and more emphasis on being cashless.

UK

Before boarding London’s famous double-decker bus, make sure that you have either an ‘Oyster card’ or a prepaid ticket as it does not carry cash. By the way, the trend of cash is decreasing throughout the UK. 89 of the total consumer payment is cashless and 88 percent people have debit cards.

Sweden

In Sweden, where there were 110 bank robberies in 2008, in 2011 this number came down to 16. The reason is the lack of cash in banks. Sweden is at number five in the list of cashless countries where 89 percent of consumer payments are cashless. 96 percent people of the country have a debit card.

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Australia

In Australia, 79 percent of people have a debit card while 86 percent of consumer payments are cashless. There are many events to promote cashless payment.

Netherlands

The Netherlands has made considerable progress in the case of cashless payments where 85% of the total consumer payments are cashless. 98 percent people of the country have a debit card. In Rajdhani Amsterdam, the parking lot does not take cash, only the payment is made through the card.

America

In the US, 72 percent people have a debit card while 80 percent of the total consumer payment is cashless. The situation is that there are questions on the relevance of ATM machines there.

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Germany

Germany is Europe’s largest economy at number 9 in the list of most cashless countries. Here 76 percent of the total consumer payment is made through card or other cashless methods. 88 percent of the population has a debit card.

South Korea

A report called MasterCard Cashless Journey details the world’s most cashless economies. South Korea is 10th in this list, where 70% of the entire consumer payment is cashless. 58 percent of the country’s population has a debit card.

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