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ECB study charts shifting payment preferences, with coronavirus (COVID-19) accelerating card use

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Published on: 02 December 2020

Published by LNB News

LNB News 02/12/2020

Document Information

Issue Date: 02 December 2020

Published Date: 02 December 2020

Jurisdiction(s): United Kingdom

Article summary

The European Central Bank (ECB) has published data from a survey launched in 2019 showing that euro area consumers are gradually shifting towards cards for in-person retail payments, although cash remained the most used instrument at the end of 2019. The data is complemented by an ad hoc ECB survey carried out in July 2020, which suggests the coronavirus (COVID-19) pandemic has accelerated use of cashless payment methods, with card payments becoming increasingly contactless.

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