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

20 Tháng Bảy 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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24-07-2021 12:35:40 (UTC+7)

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 GBP/USD1.3747↑ Sell
 USD/JPY110.56↑ Buy
 AUD/USD0.7365Buy
 USD/CAD1.2560Neutral
 EUR/JPY130.16↑ Buy
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 Gold1,801.90↑ Sell
 Silver25.235↑ Sell
 Copper4.4553Neutral
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 Brent Oil74.20↑ Buy
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 US Coffee C191.88↑ Buy
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 FTSE 1007,027.58Neutral
 Hang Seng27,284.87Neutral
 Small Cap 20002,209.41↑ Buy
 IBEX 358,717.20↑ Sell
 BASF67.030Neutral
 Bayer51.20↑ Buy
 Allianz210.50↑ Buy
 Adidas317.70↑ Buy
 Lufthansa9.849↑ Sell
 Siemens AG134.65↑ Buy
 Deutsche Bank AG10.590↑ Buy
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