UniversalPay has analyzed the evolution of payment methods and consumer preferences in a study carried out in 14 countries. Among the most relevant data is the penetration of electronic payment when refueling. 54% of Spaniards choose to pay by card, well ahead of other European countries such as Germany, where it is only chosen by 45%.
The analysis also includes a wide range of data that shows how the habits of Spaniards have changed in the last year when it comes to managing their money and making purchases. Whether online or in the physical world. These are some of the main conclusions:
Greater control of spending and savings
Although – according to 68% of the responses – Spaniards do not like to talk about money, the truth is that it worries them. The CPI has accelerated again, breaking forecasts by rising 8.7% in May, while the energy crisis and the fear of inflation continue. This combination of factors makes them more cautious when it comes to spending, and 73% of those consulted affirm that they now take into account and anticipate usual expenses such as clothing, food or transport. In addition, 66% admit to using discounts and offers when buying.
Card payment boom and contactless devices according to UniversalPay
According to the latest data from the Bank of Spain, in 2021 card spending exceeded 195,246 million euros compared to 111,131 million that were made with cash. In addition, 72% of the Spaniards surveyed use this type of payment at least 2 or 3 times a week and 62% do not feel comfortable leaving home without it. The data on use at gas stations is striking, although it also stands out in hotel reservations where 53% of those interviewed pay by card. They are closely followed by the hospitality industry (drink bars, restaurants…) with 45% and pharmacies with 42%.
Sectors with lower digital payment penetration
In hairdressers, beauty centers or barbershops, priority is still given to paying in cash. In fact, 40% of those consulted say they always use it. I would only advance the taxi, where 43% usually pay in cash. Consumers agree that on many occasions it is because they do not directly offer the possibility of paying by card. This has been recognized by 19% of the study participants, a fact that is repeated in both services.
UniversalPay: necessary transformation to avoid losing customers
43% of the people surveyed would give up a purchase in a store or establishment if it does not accept a card. On the other hand, 64% consider it important to have payment solutions in establishments and stores near their place of residence and 80% acknowledge that having this service makes their day-to-day life easier. Lastly, it is important to bear in mind that accepting digital payments affects the image of the company, since offering a wide range of payment possibilities is seen as comfortable, modern and innovative by 84% of those consulted.