Non-cash payment volumes now exceed 1.4 trillion transactions globally per year, with double-digit growth driven by mobile wallets, instant payment rails, and contactless cards. The CPMI's Red Book is the authoritative cross-country source.
Cashless payments - cards, instant transfers, mobile wallets, and e-money - have grown faster than nominal GDP in every CPMI jurisdiction for the past decade. Card payments still dominate at point of sale in mature markets, but instant rails like Pix, UPI, and FedNow are reshaping how individuals and businesses move money between accounts.
Growth is unevenly distributed. India and Brazil have moved from cash-dominant to digital-first within five years, while parts of Europe and Japan retain meaningful cash usage. The figures below combine central bank statistics with industry reports for a single, citation-grade reference.
Key statistics
- 76%2021Adults globally with an account at a financial institution or via mobile money
Up from 51% in 2011 - the fastest decade of financial inclusion ever recorded.
- 57%2021Adults in developing economies who made or received a digital payment
Compared to 35% in 2014, with mobile money driving Sub-Saharan Africa.
- ≈ 4702023Non-cash retail payments per inhabitant per year (CPMI average)
Roughly doubled over the prior decade across BIS-reporting jurisdictions.
- 63 billion2024Pix transactions in Brazil, 2024
Three years after launch, Pix surpassed combined credit and debit card volumes.
- 16+ billion2025UPI transactions in India, monthly run-rate
Up from 1 billion per month in late 2019; now over half of all retail digital payments globally by count.
Source: NPCI - UPI Product Statistics - $15.7 trillion2024Visa payments volume, fiscal 2024
Across 4.6 billion credentials and 130 million merchant locations worldwide.
Source: Visa Inc. - Annual Report - $9.8 trillion2024Mastercard gross dollar volume, 2024
Cards, contactless taps, and tokens combined across the Mastercard network.
Source: Mastercard Inc. - Annual Report
Frequently asked
What share of global payments is now cashless?+
By count, well over half of retail payments in most major economies are now non-cash, though cash retains a meaningful role in many countries for small-value, in-person transactions. By value, cashless dominates almost everywhere.
Which country has the fastest-growing cashless system?+
India (via UPI) and Brazil (via Pix) have grown digital retail payment volumes faster than any other major economy since 2019, both driven by free, instant, government-backed rails.
Where can I find official cross-country payment data?+
The Bank for International Settlements (BIS) publishes the CPMI Red Book Statistics annually, covering payment volumes for over 25 jurisdictions with standardized definitions.
Sources & References
- Bank for International Settlements - CPMI Red Book Statistics
- World Bank - Global Findex Database 2021
- Banco Central do Brasil - Pix Statistics
- NPCI - UPI Product Statistics
- Visa Inc. - Annual Report
- Mastercard Inc. - Annual Report
External references are cited for context and discovery. CashlessTechnology.com is not affiliated with the listed organizations unless explicitly stated.