17:09 12 May 2025
Digitalization of payments is progressing, but cash still used
Robrecht Vandormael, Secretary General of Payments Europe, highlighted at the European Economic Congress in Katowice that cash usage in Europe is declining, with Poland leading in payment digitalization. Still, he believes cash will remain a vital payment method. A recent study by Payments Europe found that 90% of Polish consumers used cash only occasionally last year.
Vandormael praised Poland’s innovation in electronic payments and its diverse payment ecosystem. Regarding Central Bank Digital Currencies (CBDCs), he sees them as a potential retail revolution, but warns of unresolved issues such as privacy, offline functionality, account limits, and their impact on financial stability. He stresses the need for careful planning before wide-scale CBDC adoption.
(wnp.pl)
