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2017 – a decisive year for innovative retail payment services

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As operator, the Eurosystem is enhancing the TARGET2 functionalities as relevant to address ACHs’ needs by November 2017. These steps need to be complemented by concrete interoperability arrangements between ACHs. In this regard, the Eurosystem encourages the industry to establish operational links between ACHs by the November 2017 deadline.

From 2017 – a decisive year for innovative retail payment services

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Euro area card payments double in a decade

xxx "The number of card payments in the euro area have more than doubled in a decade as consumers increasingly dispense with the hassle of carrying notes and coins, according to the latest statistics from the European Central Bank. In 2018, card payments accounted for almost half of the total number of non-cash payments across the single-currency area. Credit transfers and direct debits were the second and third most common non-cash payment methods, accounting for approximately 23% each, while e-money and cheques together made up around seven percent. However, the relative popularity of each type of payment service still varies widely across euro area countries. In 2018 card payments accounted for just over 70% of all non‑cash payments in Portugal, compared with around 23% in Germany. The stats show that the number of card payments made by consumers and businesses has more than doubled in the last decade, with an average of 121 card payments per capita in 2018, compared with