Why Cash Still Counts in the Digital Age of E-Commerce

Written by Michelle Selina Cash transactions, defined as the exchange of physical currency for goods and services, remain a crucial payment method, even in the digital world. Despite the rise of electronic payments, cash retains its relevance, particularly in e-commerce, where it plays a unique role in certain regions and among specific consumer demographics. The Global Cash Landscape The Worldpay Global Payments Report 2023 paints a nuanced picture. While cash usage declined by 8% globally, it still represents a significant portion (16%) of all transaction value. This highlights the continued importance of cash, especially during economic uncertainty and rising inflation. Consumer groups are actively campaigning to ensure cash remains accessible, recognizing its role as a budgeting tool for many. Cash in E-Commerce: A Geographic Divide Cash's presence in e-commerce might surprise some. While digital wallets dominate globally (30%), cash takes a surprising second place in s...