Central Banking

ECB’s Cœuré highlights US and Europe payments division

benoit-coeure

Benoît Cœuré, an ECB executive board member, says the eurozone must increase its domestic credit transfer and direct debit schemes if it is to catch up with the US's rate of cashless payments.

Cœuré says it is "remarkable" that the number of cashless payment transactions per inhabitant in the US is twice as high as in the eurozone and highlights the differences in payment structures between the two.

"Whereas consumer credit cards are the biggest driver of revenue in the US payments industry

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