Cash payments still account for 80pc

16th December 2005, Comments 0 comments

16 December 2005, BRUSSELS — Some four out of five transactions at Belgian cashiers are still made with cash, the National Bank of Belgium (NBB) said on Friday.

16 December 2005

BRUSSELS — Some four out of five transactions at Belgian cashiers are still made with cash, the National Bank of Belgium (NBB) said on Friday.

The NBB studies the costs of various transaction methods to compile its findings, news agency Belga reported.
 
NBB governor Guy Quaden said a higher proportion of electronic payments would save the economy money, but a society without cash is not possible.
 
The bank's study found that in 2003, there were almost 3 billion payments made via cash, 81.3 percent of the total number of transactions.

The cash payments accounted for 62.7 percent of the total amount transacted.

The higher the amount needing to be paid, the higher proportion of payments made via credit or debit cards.

"To attain considerable savings in payment transactions, a cashless society must come about. But that is unrealistic," the NBB said.
 
It said further the number of electronic transactions will increase in future, but the public wants to retain the choice.

"They weigh the pros and cons of the various payment methods," the NBB said.

[Copyright Expatica News 2005]

Subject: Belgian news

0 Comments To This Article