Central Banking

ECB documents success of eurozone retail payment systems


Use of the eurozone's area-wide retail payment systems has grown steadily since they were first instated, the European Central Bank (ECB) said on Monday.

In a 371-page book on payments systems, and the role of the eurosystem, the central bank said the use of Step1, a euro-denominated system for individual commercial payments, had increased consistently since it began operation in November 2000. In 2001, Step1 on average saw 4,374 transactions per day, while in 2009, there were 21,8721 transactio

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