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When Will Society Become Cashless? While its impossible to accurately predict when the US will move to a fully cashless society, a 2024 survey by Card Rates reveals that 70% of Americans believe that the nation is becoming a cashless society, with two in five respondents never usually carrying cash.
New research by Gala.com has predicted that 2043 is the year which the UK may become a completely cashless society1.
Cashless transactions are often more efficient for both businesses and customers. They reduce the time spent on handling cash, counting change, and dealing with the risks associated with cash management, such as theft or counterfeit bills. This ultimately leads to smoother transactions and faster service.
Sweden: Sweden leads the world in cashlessness, transitioning away from banknotes.
HB 67: Acceptance of Cash Payments by Businesses Acceptance of Cash Payments by Businesses; Requires certain businesses to accept cash payments for certain transactions; prohibits fees or conditions for such transactions; provides applicability civil penalties; requires DACS to adopt rules.
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The concept of a cashless society has been around for decades. But with 84% of payments in the US being made digitally in 2025 ing to Clearly Payments, research suggests that the transition from physical currency could take place sooner than we once thought.
Analysis from Barclays Investment Bank, meanwhile, predicts that the global transition from cash to digital payments would reach a tipping point moment in 2025, when absolute cash usage would decline from 41 per cent in 2019 to 20 per cent by 2030.
While you can still pay with notes and coins, the rise of cards and contactless payments makes it seem like a cashless society is not that far away. In fact, cash makes up just 16 per cent of payments, ing to an analysis from the Reserve Bank of Australia (RBA).

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