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ATMIA examines global cash demand

October 17, 2012

The ATM Industry Association has published a global cash compendium to provide comprehensive information on the rising international demand for cash.

The compendium describes key facts, benefits, global statistics and principles of cash, as well as some national figures of cash usage in developed and developing countries. It follows ATMIA's Cash Connects Us video as part of a campaign to present the true picture of global cash demand.

"Cash is the global payment method of choice, accounting for at least eight of every 10 payment transactions," Mike Lee, CEO of ATMIA, wrote in the announcement. "It's a highly competitive technology, and there is no evidence that cash substitution, from credit cards, online payments or mobile payments, has ever taken place. 

"The world's most successful mobile payment system, M-Pesa in Kenya, for example, has failed to halt the growth of cash in circulation in that country. The number of M-Pesa customers increased from 6.18 million in 2009 to 14.91 in 2012 but currency in circulation in Kenya rose from 89.94 billion Kenyan shillings in 2007 to 147.76 billion in 2011."

The global cash compendium is available for free download at the Cash Council web portal.

For more on this topic, visit the trends/statistics research center.

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ATM Industry Association (ATMIA)

The ATM Industry Association, founded in 1997, is a global non-profit trade association with over 10,500 members in 65 countries. The membership base covers the full range of this worldwide industry comprising over 2.2 million installed ATMs.

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