Cash is (still) King.
Cash is (still) King. According to studies carried out by ECB, cash is still the most common form of payment in Europe. Cash accounts for more than three quarters of in store transactions in the euro area last year. Despite the huge uprising and hype surrounding contactless payment cards and mobile wallets, 79% of transactions at the checkout where carried out and completed using cash last year. This amounts to around 54% of the total value of payments, in contrast… cards were used for only 19% of in store transactions and made up for 39% of the total value of payments. The data shows a geological divide: the southern euro area countries such as in Germany and Austria, show that more than 80% of POS payments were made in cash…