There is still no single global model for phasing out cash. This is clearly illustrated by the Cash Index compiled by FOREX.se, which reflects the share of everyday transactions conducted in cash across different countries — from near-total dominance of banknotes to minimal use of cash. The Cash Index is published as part of the FOREX Index series of travel-related indices, which also includes the Holiday Index, City Index, Ski Index, and others. The index covers 122 countries and shows an approximate share of spending made in cash. FOREX aggregates data from Statista, Numbeo, and other global reports, as well as annual publications by central and national banks. The published figures represent an approximate average derived from sources such as Cash Essentials, G4S, Euromonitor, the World Bank, Statrys, and the Federal Reserve System.
Cash is used least in South Korea, Norway, China, Iceland, and Australia, where only 10% of daily transactions are conducted in cash. Relatively low shares are also observed in Scotland, England, and Denmark, at 12% each. Advanced economies with mature fintech ecosystems are rapidly moving away from banknotes and coins. Widespread broadband access, high smartphone penetration, and robust consumer protection systems give shoppers confidence in a full transition to digital payments.
By contrast, poverty and limited access to banking services reinforce dependence on cash. A significant share of the population remains unbanked and has low internet penetration, while merchants cannot afford card terminals. In Myanmar, for example, cash accounts for as much as 98% of daily transactions. Ethiopia and Gambia follow, at 95% each. Countries where cash overwhelmingly dominates also include Albania, Cambodia, Laos, Lebanon, Nepal, and Pakistan, at 90% each.
Kazakhstan is not included in the Cash Index, which has a tourism focus. However, according to data from The National Bank of Kazakhstan, the volume of cash withdrawals within the country using Kazakhstan’s and foreign payment cards amounted to 22.5 trillion tenge in January–October of the current year — an increase of 8.6% compared with the same period of 2024.
At the same time, the share of cash withdrawals in total payment card turnover in Kazakhstan declined year-on-year from 13.5% to 12.9%, a level comparable to that of advanced economies. For comparison, back in 2019 cash withdrawals accounted for more than half of total card turnover; in 2020 this share fell to 34.1% and has continued to decline steadily each year since.
Across regions, in January–October 2025 the share of cash withdrawals in total payment card turnover ranged from 8.3% to 27.4%. The lowest figures were recorded in Almaty Region (8.3%), Almaty (9%), and Turkistan Region (9.4%). They were followed by Astana and Atyrau Region, at 14.4% and 14.8%, respectively.
The highest share of cash withdrawals was registered in North Kazakhstan Region, at 27.4% — more than three times higher than in Almaty Region and Almaty, and more than twice the national average. It was followed by Kostanay Region (22.6%), East Kazakhstan Region (22.4%), and Pavlodar Region (22.4%).
