Paying without notes and coins received a further boost in the second year of the corona pandemic in Germany and the euro area. In 2021, 114.2 billion cashless payments were processed in the common currency area, 12.5 percent more than in 2020, according to the European Central Bank (ECB) in Frankfurt. The total value of transactions increased by 18.6 percent year-on-year to 197 trillion euros. According to the ECB, almost exactly half (49 percent) of the cashless transactions were card payments, with transfers (22 percent) and direct debits (20 percent) accounting for almost a quarter each. Because of the spread of the corona virus, retailers had advertised cashless payments for hygienic reasons.
Money – Many no longer pay cash – Economy
