Changes in payment system usage Changes in the usage of payment systems usually happen very slowly, with the vast majority of payments now and for the foreseeable future remaining domestic. Even in Europe, where there are a large number of small countries, it is estimated only around 4% of payments are cross-border. In terms of transactions, cash continues to dominate, used for considerably more than 60% of all transactions globally. In terms of value, however, non-cash payment systems, particularly in developed countries, now take more than 50%, though usage varies considerably by country. The 2008 Bank for International Settlements (BIS) statistics show direct debits represented almost 50% of non-cash payments in Germany, compared with 11% in the US. |
