A few years ago, Spain experienced a real revolution in what forms of payment refers to the popularly called “plastic money” or what is the same credit cards.
Use of credit cards
These quickly began to consolidate among citizens between 2002 and 2008 when it increased by more than 159%, in this way, despite the fact that cash payments have continued to be made regularly the trend before the great macroeconomic crisis was that of Electronic payment policies.
Debit cards decreased
At the same time that these increased, the debit cards decreased by 10% and they were able to impose Visa, Master Card, Diners Club and American Express with the payment cards with greater volume of transactions in our country. So much so that the total number of these cards reached its peak in 2008 with 76 million cards, that is, an average of 1.68 cards per room. At present, and after having suffered one of the worst economic crises in history, the average has dropped to 1.48.
By country, Spain is in the fourth position at European level with the most credit cards used, after the United Kingdom, Germany and France.
New technologies such as Near Fied Communications (NFC) are making the trend change and move to make payments through smartphones because it is a more comfortable alternative for both users and merchants.
Will there come a time when physical tickets disappear and we don’t carry a coin with us?
What is the payment method you use most today? The outlook in recent years has changed so much that it is very difficult to predict what will happen in the future.
Meanwhile, at Wackford Squeers we continue to advise thousands of users on the most appropriate types of fast financing in each case for those who need liquidity immediately in the form of a loan.