Royal Bank of Scotland

Payment transaction with smartphone

Cash Becoming Obsolete as Digital and Contactless Payments Increase

The world is quickly shifting to digital and contactless payments. According to the 2015 World Payments Report, there were a staggering 390 billion non-cash transactions made throughout the world in 2014. This was an increase of 8.9% versus year ago levels, and a 45% jump from 2009. The study focused on purchase data from different parts