The use of cash and other means of payment: how is the way we pay changing?

Laura Ferrando and Diana Posada
Additional contact information
Laura Ferrando: Banco de España
Diana Posada: Banco de España

Economic Bulletin, 2023, issue 2023/Q1, No 01

Abstract: Rationale Digitalisation has made significant headway in recent years, particularly following the outbreak of the COVID-19 pandemic. Against this background, it is important to analyse how consumers’ payment habits are changing at the physical point of sale, online and person-to-person. Takeaways •In 2022, cash is the most commonly used payment method in Spain at the physical point of sale and in person-to-person transactions, but has declined compared with 2019. •The decrease in the use of cash is primarily driven by two factors. First, the growth in online purchases, which limits the opportunity to pay in cash and, second, a shift in consumers’ payment habits, with an increase in the use of digital payment methods in their purchases.

Keywords: Means of payment; cash; digital payments; payment behaviour. (search for similar items in EconPapers)
JEL-codes: E41 E51 J33 (search for similar items in EconPapers)
Date: 2023
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.bde.es/f/webbde/SES/Secciones/Publicac ... es/be2301-art01e.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bde:journl:y:2023:i:01:n:01

DOI: 10.53479/25132

Access Statistics for this article

More articles in Economic Bulletin from Banco de España Contact information at EDIRC.
Bibliographic data for series maintained by Ángel Rodríguez. Electronic Dissemination of Information Unit. Research Department. Banco de España ().