GlobalData reports that UK cash withdrawals fall amid coronavirus

Simona Negru

07 Apr 2020 / 5 Min Read

The revision sees transactions expected to rise at a compound annual growth rate (CAGR) of 3.5% between 2019 and 2023 due to steady card growth, according to GlobalData. The company’s report, dubbed COVID-19 Sector Impact: Payments, shows that the value of cash withdrawals in the UK is expected to decline by a CAGR of 4% up to 2023, while the value of card transactions will increase by 3%.

Meanwhile, the total transactions value has been revised down from a CAGR of 3.8% to 2%. These trends are replicated around the world, with GlobalData’s China forecasts seeing total transactions growth has been revised down to 13.6% CAGR to 2023, from 16.5%.

Countries:

United Kingdom

Simona Negru

07 Apr 2020 / 5 Min Read

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