DECRYPTION – In value, European purchases paid for by card now exceed those paid for in cash.
Europeans favor contactless payment. Thanks to the increase in the authorized ceiling to 50 euros, this simple gesture to pay for purchases has jumped, from 41% of purchases by card in 2019 to 62% in 2022, according to a report from the European Central Bank (ECB) published on Tuesday. . A practice that has accelerated in favor of the pandemic. The proportion even exceeds 80% in Greece, Cyprus, the Netherlands and Slovakia. In France, it is one out of two card payments.
This trend illustrates the rapid digitization of means of payment. In value, purchases made by card in shops now exceed cash payments. For their part, online payments have increased from 6% to 17% of daily purchases between 2019 and 2022. And the use of mobile applications to pay via your phone or connected watch (Apple Pay, Google Pay, etc.) reaches 3% of total. It’s only a beginning…
A certain ambivalence
These observations come from a large-scale study of 50,000 people…
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