Skip to main content
SpringerLink
Log in

Europe: The Shift from Cash to Non-Cash Transactions

  • Chapter
Transforming Payment Systems in Europe

Abstract

Traditional payment systems were built around cash. Non-cash payment instruments, including payment cards, used most often besides cash in retail payments, occurred quite recently, as it was in 1940–1950s. Innovative payment instruments that may become an alternative for cash have even a shorter history.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 109.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD 139.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Aghion, P., and Bolton, P. (1997) ‘A theory of trickle-down growth and development’, Review of Economics Studies, Vol. 64, No. 2, pp. 151–172.

    Article  Google Scholar 

  • Allen, F., Demirguc-Kunt, A., Klapper, L., and Martinez Peria, M.S. (2012) The foundations of financial inclusion understanding ownership and use of formal accounts, Policy Research Working Paper 6290 (The World Bank, Development Research Group, Finance and Private Sector Development Team).

    Google Scholar 

  • A.T. Kearney (2013) European payment strategy report. Winning the growth challenge in payments, https://www.atkearney.de/documents/856314/1545047/BIP_Winning_the_Growth_Challenge_in_Payments.pdf/49ecf6a4-66d4-4a48-a7ac-dd5ad999da56, date accessed 17 May 2015.

  • Banerjee, A., and Newman, A. (1993) Occupational Choice and the Process of Development, Journal of Political Economy, Vol.101, No. 2, pp. 274–298.

    Article  Google Scholar 

  • Bank for International Settlements (2002) Policy issues for central banks in retail payments, Report of the Working Group on Retail Payment Systems (Basel: Committee on Payment and Settlement Systems, Bank for International Settlements).

    Google Scholar 

  • Bank for International Settlements (2012) Innovations in retail payments, Report of the Working Group on Innovation in Retail Payments (Basel: Committee on Payment and Settlement Systems), May.

    Google Scholar 

  • Bank for International Settlements (2013) Statistics on payment, clearing and settlement systems in the CPSS countries — figures for 2012 (Basel: Committee on Payment and Settlement Systems, Bank for International Settlements).

    Google Scholar 

  • Bank for International Settlements (2014) Statistics on payment, clearing and settlement systems in the CPSS countries — figures for 2013 (Basel: Committee on Payment and Settlement Systems, Bank for International Settlements).

    Google Scholar 

  • Beck, T., Demirgüç-Kunt, A., and Martinez Peria, M.S. (2007) ‘Reaching out: Access to and use of banking services across countries’, Journal of Financial Economics, 85, pp. 234–266.

    Article  Google Scholar 

  • Beretta, E. (2014) ‘The irreplaceability of cash and recent limitations on its use: Why Europe is off the track’, http://www.bundesbank.de/Redaktion/EN/Downloads/Tasks/Cash_management/Conferences/2014_09_16_cashs_irreplaceability_and_recent_limitations_on_its_usage.pdf?__blob=publicationFile, date accessed 12 May 2015.

  • Capgemini, and RBS (2013) World payments report, https://www.capgemini.com/thought-leadership/world-payments-report-2013, date accessed 11 May 2015.

  • Capgemini, and RBS (2014) World payments report, https://www.capgemini.com/thought-leadership/world-payments-report-2014-from-capgemini-and-rbs, date accessed 14 May 2015.

  • Capgemini, RBS, and EFMA (2011) World payments report, https://www.capgemini.com/resources/world-payments-report-2011, date accessed 10 May 2015.

  • Capgemini, RBS, and EFMA (2012) World payments report, https://www.capgemini.com/resource-file-access/resource/pdf/The_8th_Annual_World_Payments_Report_2012.pdf, date accessed 10 May 2015.

  • Deloitte Center for Banking Solutions (2008) Catalyst for change. The implications of gen Y consumers for banks, December, http://www.deloitte.com/assets/Dcom-Shared%20Assets/Documents/us_fsi_GenY_Consumers_april08.pdf, date accessed 18 May 2015.

  • Demirguc-Kunt, A., and Klapper, L. (2012) ‘Measuring financial inclusion. The Global Findex Database’, Policy Research Working Paper 6025 (The World Bank, Development Research Group, Finance and Private Sector Development Team), April.

    Book  Google Scholar 

  • Demirguc-Kunt, A., Klapper, L., and Randall, D. (2013) ‘The Global Findex Database measuring financial inclusion in Europe and Central Asia’, Findex Note, 06 (The World Bank), April.

    Google Scholar 

  • Demirguc-Kunt, A., Klapper, L., Singer, D., and Van Oudheusden, P. (2015). ‘The Global Findex Database 2014 measuring financial inclusion in the World’, Policy Research Working Paper No. 7255 (The World Bank, Development Research Group Finance and Private Sector Development Team), April.

    Book  Google Scholar 

  • Denecker, O., Sarvady, G., and Yip, A. (2009) Global perspective on payments. The McKinsey global payments map, April

    Google Scholar 

  • Deutsche Bundesbank (2012) Payment behaviour in germany in 2011, an empirical study of the utilisation of cash and cashless payment instruments, https://www.bundes-bank.de/Redaktion/EN/Downloads/Publications/Bulletins_and_surveys/payment_behaviour_in_germany_in_2011.pdf?__blob=publicationFile., date accessed 25 April 2015.

  • E-commerce Foundation (2014a) European B2C e-commerce report 2014, https://www.ecommercebenchmark.org/pl/report-info/13/European-B2C-E-commerce-LIGHT-Report-2014, date accessed 30 April 2015.

  • E-commerce Foundation (2014b) Global B2C e-commerce report 2014 https://www.ecommercebenchmark.org/pl/report-info/16/Global-B2C-E-commerce-LIGHT-Report-2014. date accessed 30 April 2015.

  • Edgar, Dunn & Company (2011) Advanced payments report, http://www.edgar-dunn.com/press/issues-and-opportunities/90-2011-advanced-payments-report. date accessed 4 May 2015.

  • EFMA and McKinsey & Company (2012) Digital transformation in 10 building blocks to boost customer experience and ROE (Copenhagen and New York), October.

    Google Scholar 

  • ECB (2012) ‘Towards an integrated European card payments market’, ECB Monthly Bulletin, January.

    Google Scholar 

  • ECB (2015) Payment statistics, http://sdw.ecb.europa.eu/reports.do?node=1000001964, date accessed 25 April 2015.

  • European Commission (2008) Financial services provision and prevention of financial exclusion (Brussels), May.

    Google Scholar 

  • European Commission (2012a) ‘Green Paper. Towards an integrated European market for card, internet and mobile payments’ (Brussels, 11 January 2012, COM(2011) 941 final).

    Google Scholar 

  • European Commission (2012b) Special Eurobarometer on retail financial services (Brussels), February.

    Google Scholar 

  • European Commission (2015) ‘Press release commissioner hill welcomes agreement on the revised payment services directive’ (Brussels), 5 May http://europa.eu/rapid/press-release_IP-15-4916_en.htm?locale=en, date accessed 22 May 2015.

    Google Scholar 

  • European Consumer Centre France (2014) Cash payment limitations, http://www.europe-consommateurs.eu/en/consumer-topics/buying-of-goods-and-services/cash-payment-limitations/, date accessed 8 May 2015.

  • Górka J. (2009) Konkurencyjność form pieniạdza i instrumentów płatniczych (Warszawa: CeDeWu).

    Google Scholar 

  • Gumuła W. (2013) ‘Pieniądz gotówkowy i bezgotówkowy w Polsce’ in H. Żukowska and M. Żukowski (eds) Obrót bezgotówkowy w Polsce (Lublin: Wydawnictwo KUL).

    Google Scholar 

  • Harasim J. (2013) Współczesny rynek płatności detalicznych — specyfika, regulacje, innowacje (Katowice: Wydawnictwo Uniwersytetu Ekonomicznego w Katowicach).

    Google Scholar 

  • Harasim, J., and Klimontowicz, M. (2013) ‘Payment habits as a determinant of retail payment innovations diffusion: The Case of Poland’, Journal of Innovation Management, No. 2.

    Google Scholar 

  • ING (2015) ING International survey, the rise of mobile banking and the changing face of payments in the digital age (Paris: Ipsos for ING Group), April.

    Google Scholar 

  • King, B. (2013) Bank 3.0. Why banking is no longer somewhere you go but something you do (Singapore: Brett King and Marshall Cavendish (International) Asia Pte Ltd.).

    Google Scholar 

  • Koźliński, T. (2013) Zwyczaje płatnicze Polaków (Warszawa: NBP, Departament Systemu Płatniczego), May.

    Google Scholar 

  • National Bank of Poland (2013) Diagnoza stanu rozwoju obrotu bezgotówkowego w Polsce (Warszawa: NBP, Departament Systemu Płatniczego), December.

    Google Scholar 

  • National Bank of Poland (2015) Informacja o kartach płatniczych IV kwartat 2014 (Warszawa: Departament Systemu Płatniczego), Marzec.

    Google Scholar 

  • Polasik, M., Górka, J., Wilczewski, G., Kunkowski, J., Przenajkowska, K., and Tetkowska, N. (2013) ‘Time efficiency of point-of-sale payment methods: The empirical results for cash, cards and mobile payments’, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1769922, date accessed 25 March 2015.

  • Reserve Bank of India (2011) Financial Inclusion | A road India needs to travel, https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=607, date accessed 10 May 2015, date accessed 15 May 2015.

  • Schmiedel, H., Kostova, G., and Ruttenberg, W. (2012) ‘The social and private costs of retail payment instruments. A European perspective’, European Central Bank Occasional Paper Series, No. 137, October.

    Google Scholar 

  • Sullivan, B.J., and Wang, Z. (2007) ‘Nonbanks in the payments system: Innovation, competition and risk — a conference summary’, Federal Reserve Board of Kansas City Economic Review, No. 3.

    Google Scholar 

  • Sveriges Riksbank (2015) ‘The payment behaviour of the Swedish population’, http://www.riksbank.se/en/Statistics/The-payment-behaviour/, date accessed 12 May 2015.

  • The Banking Association of South Africa (2015), Working definition of financial inclusion, http://www.banking.org.za/what-we-do/overview/working-definition-of-financial-inclusion, date accessed 10 May 2015, date accessed 15 May 2015.

  • The UK Cards Association (2015) ‘Consumers turn to contactless as usage surges’, http://www.theukcardsassociation.org.uk/news/Contactless_surgeJan2015.asp, date accessed 17 May 2015.

  • The World Bank (2011) Payment systems worldwide — a snapshot. Outcomes of the Global Payment Systems Survey 2010, http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/06/25/000425970_20120625104300/Rendered/PDF/701580ESW0P1230bal0Survey0Book02010.pdf.

Download references

Authors
  1. Janina Harasim
    View author publications

    You can also search for this author in PubMed Google Scholar

Editor information

Editors and Affiliations

  1. University of Warsaw, Poland

    Jakub Górka

Copyright information

© 2016 Janina Harasim

About this chapter

Cite this chapter

Harasim, J. (2016). Europe: The Shift from Cash to Non-Cash Transactions. In: Górka, J. (eds) Transforming Payment Systems in Europe. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9781137541215_2

Download citation

Publish with us

Policies and ethics

Search

Navigation