Central Banking

ECB research finds European retail payment costs about 1% of GDP


The social cost of making retail payments in European countries amounts to nearly 1% of GDP on average, a report by the European Central Bank (ECB) has found.

The ECB examined payment costs across these 13 countries, including the transportation of cash, management of electronic transactions, provision of machines, credit risk analysis and fraud prevention, in collaboration with 13 European central banks. When broken down into private costs, the report found half of the total was incurred by ban

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