Spain sees highest growth rate in contactless payments in Europe

Report page graphic showing Spain has highest growth rate in contactless payments in Europe
ADOPTION: The report reveals that nine in ten Spaniards now prefer to pay using contactless

The total number of contactless card payments made in Spain increased by 10% during 2021, the highest growth rate recorded in Europe, according to payment services provider Minsait Payments.

The company’s XI Report on Trends in Means of Payment also shows that nine in ten Spaniards now identify contactless as their preferred card payment option and that, of all European countries, Spain is now second only to the UK in terms of contactless payment adoption.

The research also found, however, that Spain remains the European country with the highest percentage of bank users who continue to make cash transactions (85%) and that the proportion of cash payments is higher for transactions with small and medium-sized businesses (45%), restaurants and bars (36%) and public transport (31%).

UK Finance reported on increases in in-store contactless card payments in the UK in December 2021.

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