Cash still accounts for 78% of European payments

Cash payments accounted for 78% of Europe’s 388 billion retail payment transactions in 2008, according to a new study by Retail Banking Research (RBR), and the cost of distributing, managing, handling, processing and recycling cash and of accepting cash payments came to a total of €84 billion. That’s the equivalent of 0.6% of Europe’s GDP or €130 per person, say the researchers. More