Series: Economic Bulletin.
Author: Isabel Rodríguez Molina and Álvaro Esandi Erro
Other means of payment
- Payment systems
- Cash, coins and banknotes
- ECB, Eurosystem
Full document
Abstract
Rationale
The increasing digitalisation of means of payment is having a significant impact on how consumers pay. Analysing how means of payment are used allows us to assess whether consumers have safe, efficient and inclusive payment options available to them.
Takeaways
- The use of mobile devices at the point of sale has doubled since 2022, although cash and cards remain the most frequently used means of payment.
- Cards are the chief payment method online and instant payments stand out in person-to-person payments.
- The main factors persuading consumers to try out new means of payment are ease of use and higher security standards.