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French BPCE Expects Annual Profits Over €700 Million from Novo Banco Acquisition

French BPCE Expects Annual Profits Over €700 Million from Novo Banco Acquisition

Bank of Portugal Issues Warning on Crypto Asset Wallet Fraud

Bank of Portugal Issues Warning on Crypto Asset Wallet Fraud

Banco Sabadell & BBVA Shares Drop 2.11% & 1.55% Amid TSB Acquisition Interest from UK Banks

Banco Sabadell & BBVA Shares Drop 2.11% & 1.55% Amid TSB Acquisition Interest from UK Banks

Banco Comercial Português (BCP) Invests Over 110 Million Euros in Share Buybacks

Banco Comercial Português (BCP) Invests Over 110 Million Euros in Share Buybacks

CaixaBank Launches €500 Million Share Buyback Programme

CaixaBank Launches €500 Million Share Buyback Programme

Lone Star Sells Novo Banco to BPCE for €6.4 Billion

Lone Star Sells Novo Banco to BPCE for €6.4 Billion

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Swiss National Bank Acquires 700 Million Francs in Foreign Currency

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Greek Banks Raise €7.75 Billion in Bond Issuances

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Halifax and HSBC Cut Mortgage Rates: Latest Updates

Halifax and HSBC Cut Mortgage Rates: Latest Updates

Banks Shift Focus to Investment Amid Regulatory Changes

Banks Shift Focus to Investment Amid Regulatory Changes

Deutsche Bank Shares Rise: Royal Bank of Canada's Top Industry Picks

Deutsche Bank Shares Rise: Royal Bank of Canada’s Top Industry Picks

Swiss National Bank Acquires 700 Million Francs in Foreign Currency

Swiss National Bank Acquires 700 Million Francs in Foreign Currency

ING Lowers Savings Account Rates Effective January 1

ING Lowers Savings Account Rates Effective January 1

Alpha Bank Divests 65% Stake in Skyline to P&E Investments

Alpha Bank Divests 65% Stake in Skyline to P&E Investments

Cash Still King: Euro Area Consumers Value Payment Choice

Cash Still King: Euro Area Consumers Value Payment Choice

Cash Losing Ground in the EU: A Digital Shift Explore how cash is declining in the Eurozone as digital payments rise, reshaping consumer habits and the future of transactions. In the ever-evolving landscape of monetary transactions within the Eurozone, cash appears to be gradually relinquishing its erstwhile dominance. Despite its continued status as the preferred medium of exchange for many consumers, particularly for minor purchases, the European Central Bank (ECB) has illuminated a discernible shift towards digital payment modalities. Recent analyses reveal that while cash transactions still constitute a significant portion of exchanges, their prevalence is waning. In 2023, a mere 52 percent of transactions were executed in cash, a notable decline from 59 percent in 2022 and a staggering 72 percent in 2019. This trend underscores a broader societal pivot towards the convenience and efficiency of digital payments. Moreover, the ascendancy of card payments is equally striking, with their share escalating from 25 percent in 2019 to 39 percent in the latest evaluation. This transition is not merely a statistical anomaly; it reflects a profound transformation in consumer behavior and preferences. Interestingly, the decline in cash transactions is not uniform across the Eurozone. While most member states have witnessed a decrease in cash usage, Finland and the Netherlands stand as exceptions, maintaining a more robust engagement with physical currency. Cyprus has experienced the most pronounced drop, with an 11 percentage point decrease in cash transactions, followed closely by Germany, Malta, and Portugal, each recording a 10 percentage point decline. As we navigate this intricate tapestry of financial evolution, one must ponder: is cash truly losing its grip, or is it merely adapting to a new role in an increasingly digital economy? The answer may lie in the delicate balance between tradition and innovation, a dance that will undoubtedly continue to unfold in the years to come.

Cash Losing Ground in the EU: A Digital Shift

Novo Banco Sells Non-performing Loan Portfolio for €30.7 Million

Novo Banco Sells Non-performing Loan Portfolio for €30.7 Million

Free Instant Money Transfers for Spanish Banks in 2025

Free Instant Money Transfers for Spanish Banks in 2025

Santander Sells 30.5% of Caceis to Crédit Agricole

Greece Caps Bank Fees for Money Transfers