According to the Spanish payment platform PayRetailers, mobile payment has grown in Spain by almost 10% since 2019, according to them this increase has been driven by the change in consumer behavior and the increased use of integration of new payment methods. between companies.
In a review prepared by the Europa Press news agency, 14% of Spanish Internet users complete their ‘online’ purchases with mobile payment for international purchases, barely 1% more than in 2020 according to data from the National Observatory for Technology and Society (ONTSI) analyzed by the Spanish platform.
In this sense, according to the report, This trend of increased use is accompanied by the decrease in the use of cash throughout the euro zone, since according to a report by the European Central Bank it has decreased by 20% since 2016 to stand at 59%. However, it is also important to take into account that, on the other hand, the Denaria platform also pointed out in a recent report that the use of cash had regained ground among the Spanish.
Having said that, It is worth noting the reasons why the use of other forms of payment such as mobile phones increase: due to purchases abroad, “greater security” implemented by companies, the ease of bringing markets from different economic zones together and the empowerment of ‘ecommerce’.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
It may interest you:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.