Reasons for a decrease in cash in wallet in Hong Kong 2020
A 2020 survey among consumers living in Hong Kong showed that the leading reason for going cashless was for hygiene, accounting for approximately 54 percent of the respondents. The increase in usage of contactless payments, store-value cards, and credit cards also led to a decline in cash in wallet. Almost half of the respondents would go cashless as they found carrying cash around inconvenient.