Less than 20 percent of all Finnish payment transactions were done with cash money in 2019, moving the Nordic country towards being a cashless society. This according to estimations based on the available data regarding cash withdrawals and payment transactions. No data exists on the actual use of cash money, outside of survey diaries. Such a diary, covering consumers' use of cash money in shops, was held in Europe only once, in 2017. As not all payment data is readily available, like the use of OTC or over-the-counter cash withdrawals, note this can still mean that the cash share numbers provided here are not necessarily accurate.
Share of cash estimate at point of sale (POS) in Finland from 2002 to 2021
The numbers provided have been calculated by Statista, using numbers on ATM and OTC withdrawals. See the "Details" tab for more information
No data is available that covers the exact volume of transactions conducted with cash money. In order to make a credible estimation, this calculation looked at the following indicators:
Value of ATM cash withdrawals (either with cards issued by resident PSPs at any terminal, provided by either a resident or non-resident PSP, or with cards issued by non-resident PSPs at terminals provided by resident PSPs;
Value of OTC or over-the-counter cash withdrawals;
Value of card payments, issued by resident PSPs;
Value of e-money payment transactions, issued by resident PSPs.
To summarize, this methodology tries to put cash withdrawals, either at an ATM or OTC, in perspective of all payment transactions (withdrawals + card payment+ e-money transactions) within a country. Numbers on checks, ACH or instant payments have not been used.
Note that numbers on OTC withdrawals and e-money are not always readily available for all years. Multiple sources were consulted to get to these numbers. In the case of Finland, numbers on OTC were not provided due to what the ECB described as "questionable data".
* The numbers provided for ATM withdrawals in 2017 were incomplete. The source did not provide information about why this was. An estimate was used here, otherwise the percentage would have been 1.8.
The values used in the calculations for Finland were in euros.
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Statista. (July 22, 2022). Share of cash estimate at point of sale (POS) in Finland from 2002 to 2021 [Graph]. In Statista. Retrieved December 02, 2022, from https://www.statista.com/statistics/1094945/cash-use-in-finland/
Statista. "Share of cash estimate at point of sale (POS) in Finland from 2002 to 2021." Chart. July 22, 2022. Statista. Accessed December 02, 2022. https://www.statista.com/statistics/1094945/cash-use-in-finland/
Statista. (2022). Share of cash estimate at point of sale (POS) in Finland from 2002 to 2021. Statista. Statista Inc.. Accessed: December 02, 2022. https://www.statista.com/statistics/1094945/cash-use-in-finland/
Statista. "Share of Cash Estimate at Point of Sale (Pos) in Finland from 2002 to 2021." Statista, Statista Inc., 22 Jul 2022, https://www.statista.com/statistics/1094945/cash-use-in-finland/
Statista, Share of cash estimate at point of sale (POS) in Finland from 2002 to 2021 Statista, https://www.statista.com/statistics/1094945/cash-use-in-finland/ (last visited December 02, 2022)