Society is always in constant motion, and this happens in all aspects. The same happens with payment methods. Over time, we have grown along with the digitization. A multitude of programs, ideas, and new projects focused on the digital sector have appeared. This has led to the emergence of new payment methods, such as, for example, digital payments.

The increased use of these new digital payments makes us rethink whether in the future the banknotes and coins that we currently know will continue to exist, or if they will fall into oblivion. The new generations were born knowing all these changes. They are so digitized that we already see normal for a child as young as 3 or 4 years old to be able to handle a mobile phone perfectly, while the elderly are stuck in the traditional payment method and do not understand new technologies.

Rapid growth of digital payments and decline of traditional ones

With the arrival of the pandemic, the emergence of these new means of payment has increased exponentially. This has resulted in a large part of the population adopting digital payments as the main form of payment.

According to a survey conducted by Statista Global Consumer Survey, a 68% of Spaniards affirm that they have paid with cash in premises. A 60% declares to have used the Debit, while a Four. Five% has used the credit card.

Countries that are most involved in digital payment

Austria it is considered the main country to maintain the traditional payment (82%). Follow him Mexico, with 70%. Meanwhile in South Korea, only 44% of the population affirms to have used notes and coins to pay.

Regarding payment with mobile phone, the winning country is China, with a percentage of 84%, while France and Austria are the countries with the lowest percentage. Both are at 9%.

Source: Statista Global Consumer Survey

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