Payments Industry in Spain, November 2012 (Free)

Payments Industry in Spain, November 2012 (Free)

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The Spaniards’ use of paper-based payment methods remains very strong, but in the last decade, the evolution of electronic payments has been rapid leading to a dramatic increase in the the use of credit and debit cards. Although the current macroeconomic crisis might hinder this trend, resulting in a temporary increase in the use of cash, electronic payment methods will continue to grow. Smartphone use in Spain is one of the largest in Europe, but the deployment of terminals and the number of mobiles with NFC technology is still in its early stages, so innovations in payment methods will likely lean towards contactless cards. 

Author: Alexis Germán Pirchio 

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