FAMAGUSTA GAZETTE – Cyprus is on track to become one of the world’s first fully cashless nations, with automated teller machines (ATMs) potentially disappearing from the island within the next sixteen years, according to a global study by Merchant Machine.
The research analyzed ATM trends using World Bank data and internet search patterns, identifying regions most impacted by declining cash access.
Between 2012 and 2021, Cyprus recorded a 33.83 percent drop in ATMs, ranking fifth globally for ATM reduction. If the current trend continues, the study forecasts Cyprus will be entirely cashless by 2041.