Global Cashless Payments Rise, Credit Transfers Lead
Summary
CPMI Brief No. 12, published 27 April 2026, presents key retail payment trends from the 2024 Red Book statistics collected from BIS CPMI member jurisdictions. The analysis finds that cashless payment use continues to rise globally, with credit transfers the fastest-growing cashless payment method in emerging market and developing economies (EMDEs), while card payments drive growth in advanced economies (AEs). Fast payments are identified as a key driver behind credit transfer growth in EMDEs and are increasingly used for small-value payments in both EMDEs and AEs.
“Credit transfers are the fastest growing cashless payment method in emerging market and developing economies (EMDEs), while the growth in cashless payments in advanced economies (AEs) is mainly driven by growth in card payments.”
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What changed
This CPMI Brief summarizes global retail payment trends based on 2024 Red Book statistics from CPMI member jurisdictions. The publication identifies distinct growth patterns between emerging and advanced economies: credit transfers are the primary driver of cashless payment growth in EMDEs, while card payments dominate in AEs. Fast payment systems are highlighted as an increasingly important mechanism, particularly for small-value transactions. The brief also notes that while cash withdrawals are declining globally, cash in circulation has stabilised, indicating cash remains relevant in modern economies.
Affected parties include central banks, payment system operators, and financial institutions monitoring global payment trends. The brief does not impose compliance obligations but provides benchmark data that may inform payment system strategy and policy development across jurisdictions.
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Apr 28, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Tap a card, pay by phone, but cash still holds its own
CPMI Briefs | No
12 | 27 April 2026 by Chakree Aksonthung, Anneke Kosse and Ismail Mustafi PDF full text (613kb) | 12
pages
Highlights
- The use of cashless payments continues to increase globally. Credit transfers are the fastest growing cashless payment method in emerging market and developing economies (EMDEs), while the growth in cashless payments in advanced economies (AEs) is mainly driven by growth in card payments.
- Fast payments are gaining ground and are a key driver behind the growth of credit transfers in EMDEs. Fast payments are increasingly used for small-value payments in both EMDEs and AEs.
- Cash withdrawals are declining. However, cash in circulation has largely stabilised, underscoring the enduring relevance of cash in economies.
Introduction
New technologies, payment system enhancements and evolving user expectations are changing the way people pay. Cashless payments, such as card payments, electronic fund transfers and e-money payments, have been rising for years. In particular, the introduction of retail fast payment systems and increased demand for convenience and speed have spurred the use of fast payments. Even so, it is impossible to imagine a world without cash, as it still plays a prominent role in people's lives.
This CPMI Brief highlights key retail payment trends as observed in the 2024 Red Book statistics. These statistics were collected in the second half of 2025 from member jurisdictions of the Bank for International Settlements' (BIS) Committee on Payments and Market Infrastructures (CPMI) and are publicly available at the BIS Data Portal. The Brief starts with an overview of the use of cashless payment methods and subsequently focuses on trends in fast payments. It then discusses global trends in cash in circulation and cash withdrawals. The Brief concludes with a summary of the key takeaways.
The views expressed in this publication are those of the authors and do not necessarily represent the official views of the Committee, its members or the BIS. About the authors Chakree Aksonthung More from this author
Anneke Kosse More from this author Ismail Mustafi More from this author
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