Consumers pay more with cards than with cash

Consumers pay more with cards than with cash

While cash is still the most commonly used means of payment for shopping in the 19 eurozone countries, card payments have surpassed cash payments in terms of sales for the first time. That is the core message of a study by the European Central Bank (ECB) published yesterday, Tuesday.

According to this, since the beginning of the pandemic, 46 percent of sales at the checkout have been paid by card and 43 percent in cash. The remaining payments were settled by vouchers or by invoice. According to the study, consumers are more likely to pay smaller sums with notes and coins, larger ones by card.

The proportion of cash payments in all transactions fell to 59 percent this year. In 2019 it was 72 percent, six years ago 79. In addition to card payments, paying with smartphones is also gaining in importance, according to the ECB.

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Source: Nachrichten

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