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Cash ousted in Spain as main means of payment during pandemic, Bank of Spain says

Thứ Ba, 20 tháng 7, 2021
Cash ousted in Spain as main means of payment during pandemic, Bank of Spain says © Reuters. FILE PHOTO: The complete Europa series, with the new 100- and 200-euro banknotes, is displayed during a presentation at the ECB headquarters in Frankfurt, Germany, September 17, 2018. REUTERS/Kai Pfaffenbach

MADRID (Reuters) - Cash was ousted as the main means of payment during the COVID-19 pandemic by Spaniards, who instead opted to pay by debit card last year, according to a poll published on Monday by the Bank of Spain.

In 2020, 54.1% of Spaniards preferred to use debit cards as their first choice of payment compared with 35.9% who opted to pay in cash. However, the use of cash rose to 37.5% in Spanish towns with less than 100,000 inhabitants.

The Bank of Spain said in its survey that the overall decline in the preference for cash has been showing a sustained trend since 2014, when almost 80% of respondents made it their first choice.

However, cash is still the most used means of payment in younger and older age groups, the Spanish central bank said.

Debit cards are the preferred means of payment for 64.8% of businesses, while 26.4% of small businesses still opted for cash, compared with 36.2% in 2019.

The poll comes just a few days after the European Central Bank took a first step towards launching a digital version of the euro, part of a global drive to meet growing demand for electronic means of payment, though also to tackle a boom in cryptocurrencies.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

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EUR/USD

1.0658

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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