October 7, 2015

Finns lead the world in non-cash transactions

The annual volume of non-cash payments in Finland was 451 per person in 2013.
The annual volume of non-cash payments in Finland was 451 per person in 2013.
iStock.com/LDProd

According to the 2015 World Payments Report, people in Finland make more non-cash payments than any other nationality in the world.

A joint venture between Capgemini and Royal Bank of Scotland, the report found that Finns individually utilised non-cash transactions 451 times in 2013.

Whilst this represents a slight decline from Finland’s 2012 statistic, it is still some 60 more non-cash transactions per person than US residents, whose average of 390 each was ranked second worldwide.

Inhabitants of the Netherlands, Australia and Denmark helped their countries round out the global top five. Rankings were attributed to the extent of each country’s innovations with payments systems, along with private spending and GDP growth.

On a global scale, non-cash payments increased nine per cent to 358 billion transactions in 2013.

The global forecast for such is tipped to have reached almost 390 billion in 2014.

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