Central Banking

Growth in European cashless payments subsides

ecb-frankfurt

The total number of non-cash payments increased in 2009, but at a slower pace than previous years, statistics on payments published by the European Central Bank (ECB) on Monday said.

The ECB said the amount of cashless payments in the European Union (EU) had grown by more than 4% in 2009, to €82 billion ($105 billion), compared to the period between 2000 and 2008, where the rate of increase averaged 6.5% a year.

The largest differences were observed in card payments where the annual growth rate

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