Pymnts writes a new story in which they highlight the growth opportunities for instant payments.
Cash surprisingly accounts for over 70% of all transactions at the point of sale, meaning in countries such as Germany, Spain and Italy, cash remains a popular instrument for in-person retail payments — but these same countries have citizens that can be converted to drop the cash habit and who are used to online banking.
European Payments Council (EPC) Director General Etienne Goosse told the website that EU consumers aren’t yet interested in instant payments except if they must make a payment urgently and digital rails are more accessible and convenient.
Goosse also told Pymnts that the EPC has an informal relationship with the EPI, an initiative launched by Eurozone banks to create a unified Europe-wide payments system that can take on card networks like MasterCard and Visa.
This article was written by PYMNTS and originally published on PYMNTS. A subscription may be required.
