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The onset of the coronavirus pandemic has triggered a large step globally towards a cashless society, as people search for ways to cut down on their exposure to possible contagions. As a result, ‘contactless’ payment – where users simply tap their cards in stores and supermarkets – has grown by 10% in Spain in the last year alone, the highest growth recorded in all of Europe.

 

According to a report by Minsait Payments, this payment method is now the preferred method for nine out of ten Spaniards, but for those planning a trip to Spain, don’t pack the euros away just yet: in many areas of Spain, cash is still king and depending on the area, many establishments don’t accept credit or debit cards, so it’s best to plan on using a little of both.

 

In fact, the United Kingdom is the only European country beating Spain in its adoption of the contactless system, although the majority of people still choose to use cash in most cases (85%).

 

The use of the contactless payment in Spain also varies widely across industries, with more people opting to pay in cash in small and medium-sized businesses (45%) and bars and restaurants (36%) than on public transport (31%).

 

With regard to the cards in question, debit is by far the most popular Europe-wide, accounting for around 85% of the total, although in Spain this figure rises to 90%.

 

Whatever the trend, the experts consulted in the study don’t believe that any of the main means of payment will disappear in the short term, although most have predicted that card and contactless payments will continue to gain ground in the coming years.

 

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