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MNI BRIEF: Cash Remains King In Euro Area, ECB Survey Shows​

(MNI) LONDON
LONDON (MNI)

Cash remained the preferred method for citizens across the euro area to conduct point-of-sale transactions in 2019, although contactless card payments were picking up, even before the Covid-19 pandemic helped drive a move away from notes, data published by the European Central Bank Tuesday showed.

The period surveyed showed 73% on person-to-person and at point sales were conducted in cash, although the percentage fell sharply (48%) in value terms.

Card payments at point-of-sale rose 5 percentage points to 24% - an share expected to growth significantly in the socially distanced world of 2020.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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