A November 22 publication from the Overseas Departments Issuance Institute on payment habits in Guyana shows that 55% of Guyanese purchases are made in cash.
This was already the observation in 2023, a study showed that cash payment was favored in Guyana. A preference which was explained by at least three factors:
- The economic fragility of the population and its low level of banking
- A developed informal economy
- A geographical positioning that encourages the flight of cash abroad
See here the previous article from Guyane la 1ère
The 2024 IEDOM note specifies “Cash payment is preferred for more than half of point-of-sale and person-to-person transactions. The main advantage highlighted is that this payment method is accepted in many circumstances. »
It should be noted that in Western Guyana the use of cash is more marked than elsewhere even though access to ATMs is often problematic.
In fact, reports this note, the percentage of payments by bank card is 33.5% compared to 54.7% for payments by cash. In mainland France, this rate is 50%. The West Indians, for their part, make their purchases 47.6% in cash and 45.9% with a bank card.
On the other hand, it is in Guyana that payment by mobile phone 8.6% is most successful (2.9% in the Antilles and 4% in France) due to the youth of the population.
France
