Europe is losing the “war on cash”: report
Despite the efforts of the European Central Bank (ECB) and the European Commission in pushing for electronic payment methods to be more widely adopted, consumers still prefer to use cash. According to a report released last Thursday, this predilection cost the continent €84 billion ($115 billion) in 2008.
The study, entitled ‘The Future of Cash and Payments', showed that despite some growth in the use of cashless payments, notes and coins still accounted for 78% of all European retail payment
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