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Cash Decline
- Digitalization is changing payments, and cash is no longer king.
- Cash usage has dropped about 25% in major economies in the last decade.
Cash Replacements
- Credit cards, FinTech apps, and smartphones are replacing cash.
- Emerging economies use mobile payment systems like M-PESA in Kenya.
Payment Systems
- China uses QR codes for payments in markets.
- India's Unified Payment Interface (UPI) is a state-led, open system.