Mariia Lutsyk


This research contributes to the scientific literature, emphasizing the urgency of the issue of funds withdrawal from banking circulation, reducing cash turnover in the economies of different countries in order to minimize the risks associated with its use.

Reducing of cash circulation is a task that requires solving economic, political, social, administrative, psychological problems. The general decrease in the amount of cash will lead to reduction of inflation rate, the risk of money-laundering, terrorist financing, will improve the investment climate, liberalize the credit market, etc.

Despite the rather long time during which the chosen topic is researched by scholars and studied in practice at the level of states, intergovernmental associations, banks, there is still a significant share of cash transactions with a general tendency to increase cashless transactions both in number and amount. Therefore, it is important to obtain and analyse relevant information, review forecasts, clarify plans – these are what this study is primarily devoted to.

The transition to cashless payments is associated with a number of obstacles and challenges, so the author analyses the determinants of implementation and the effectiveness of non-cash turnover, substantiates which socio-economic factors constrain the use of non-cash transactions. The demand for non-cash payments depends on the level of use of cash in the country, and on how quickly society will be able to stop using physical money. The positive aspects of the impact of non-cash circulation on the country's economy, public administration, industry and society have been identified.

Statistics show that the preference for certain types of payment instruments, cash or non-cash payment depends on the level of economic development of the country, traditions, habits and areas of economic activity in society.

This article considers and analyzes the current state of cash circulation in selected countries, presents the ratio of cash to total assets of global technology companies from 2007 to 2019; shows forecasts of cash use in different countries.

In addition, the issue of cybersecurity, which should be given special attention when it comes to payments using special means for it in general, and on the Internet in particular, is not ignored.


cash; cashless payments; cash circulation; non-cash circulation; banking system


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ISSN (Print) : 2449-7320

ISSN (Online) : 2449-8726