When paying becomes fun
The way consumers pay has changed radically in recent years. Ten years ago, we still preferred cash. But things started to change in 2015. Since then, more consumers have paid with their debit card than with cash. Last year, no less than 55% of all transactions were paid by debit card in the retail sector, and this is expected to be 60% by the end of this year.
Yet there was a definite point when paying digitally really took off. The debit card has now been in existence for 30 years but the big jump in the number of digital transactions started only five years ago. The game-changer seems to have been contactless payment, where no PIN code is required for small transactions. Although this is not the safest way of paying, it is currently the easiest.
Consumers are sensitive to this and quickly choose the easiest way. Nevertheless, there are big differences in how payments are made in each retail sector . It seems on average that people are much more ready to use their debit card when paying higher amounts. The feeling of insecurity when carrying a lot of money around on the street plays a decisive role in this. In supermarkets, for example, people still pay more with cash than by debit card, while, on the other hand, three out of four transactions are digital with fashion retailers.