Luxtoday

Luxembourgers use plastic cards as a payment method more often than most Europeans

A recent study by the European Central Bank shows that fewer and people in the region are using cash. Luxembourg is among the leaders in non-cash payments.

Luxembourgers use plastic cards as a payment method more often than most Europeans

In the entire eurozone, there are 4 leader countries that use cards more often than cash. These are Finland (up to 70% of all transactions are done through plastic cards), the Netherlands (67%), Luxembourg (52%) and Belgium (48%). Estonia is closing out the top five - cashless payments contribute 46% of all transactions in the country. In other countries, the percentage is even less.

Payments through mobile applications are also added to that number. Although their share is still relatively low, in Luxembourg a solid 5% of all transactions are made through apps and mobile devices. The Grand Duchy is only supplanted by the Netherlands with an impressive 10%.

Unsurprisingly, 63% of Luxembourgers consider the news about instant payments being possibly implemented in the country in the near future extremely important.

Also, 8% of the country's population invest in crypto and consider it a promising financial instrument. In the entire eurozone only Slovenia has shown similar numbers. The rest of the participating countries lag far behind.

Another fun fact. Despite often using non-cash payments, Luxembourgers do carry fat wallets: residents of the country have around 110 euros on average on their person compared to the EU's average of 83 euros.