Payments in the Euro Area

05 February 2016

According to the Deutsche Bank Research (DBR), the payments in the euro area are not stagnating.

Heike Mai, author of the article for the DBR, claims that the payment volumes in the euro area have risen every year and the year 2015 is expected to follow the same growth rate.

Using the ECB figures, the DBR shows that the cashless payments grew by about 7%. Card payments continued to gain popularity among consumers and increased by 6% and E-money payments kept increasing by 15%.

If the card payments have benefitted from the replacement of cash, the DBR highlights that new payments services could target this potential with solutions for mobile person-to-person or instant payments. Heike Mai wonders if these new solutions will complement or substitute the established instruments in the future.