ATM’s and cash withdrawals suffer in Europe as pandemic begins to lift

We’ve made it to 2022, and even though the pandemic lingers in the background, the explosion of digital payments it caused has left a very different world in its wake – this much we know.

The long-predicted cashless world may still be far off, but there’s no doubt we’re living in a “less-cash” landscape that continues to feel the shockwaves from the explosion of digital payments over the past two years.

To reflect this new reality, the Digital & Card Payment Yearbooks have been redesigned to encompass the widening payment and FinTech ecosystems. Covering 43 countries across Europe and Eurasia, the 2022 editions include even more valuable data and insights (including growth forecasts) generated from the impact of Covid-19 on all payment metrics.

Not only will you find out how Covid caused huge changes in payment usage, but you’ll also discover how banks are using digital ID and artificial intelligence to revolutionise their customer service capabilities.

And with so much fervent activity taking place around blockchain and crypto, the Yearbooks uncover how central banks and regulators across Europe and Eurasia are urgently ramping up efforts to develop central bank digital currencies.

How Covid-19 Caused a Cash Crunch

As a taster of what’s inside, one of the most immediate and long-lasting impacts of the pandemic is the staggering drop in cash withdrawals. Cash usage declining is no surprise, given how lockdowns restricted physical in-store shopping, events, dining and other cash-heavy locations.

The total number of cash withdrawals across all E33 countries covered in the Yearbook showed an overall decline of -24.41% from 2019, and a compound annual growth rate decline of -6.56% over the last five years.

The total value of cash withdrawals on cards declined overall by 14.15% from 2019.

The total value of ATM withdrawals in Eurasia was $540.27 billion, representing 29.80% of total transactions value in Eurasia in 2020. On average the dynamic trend from ATM withdrawal to POS payment has been a 29.70% shift in value in just one year, and a compound decline of 25.23% year-on-year between 2016 and 2020.

The Yearbooks show just how much the scales have tipped in favour of digital payments, and what’s clear is that this is no temporary blip.

The eruption of e-commerce is evidence of how quickly consumers got to grips with non-cash payment methods. While borne of necessity, many people have come to love the speed and convenience of new ways to pay, and that means long-lasting ramifications for everyone in the payment ecosystem.

The Industry Bible of Payment & FinTech Intelligence

The Digital & Card Payment Yearbooks give a market leading and comprehensive, up-to-date picture of Digital and Card payment services including digital and card issuing, acquiring and processing business within 43 countries plus pan European and Eurasian overviews and more…

We’ve introduced a fresh new interactive layout for the 2022 Digital & Card Payment Yearbooks, making it quicker and easier to find the information you’re looking for.

The report comprises of 2 volumes – Volume 1 covers payments statistics of the 33 European countries and Volume 2 contains the Eurasian payments statistics on 10 countries. The European Payment Cards Yearbook 2021-22 and the Eurasian Payment Cards Yearbook 2021–22 are available to purchase as complete volumes or as individual country profiles.

The reports are recognised through the payments industry as the most authoritative source of cards and payments business information on the European and Eurasian payment markets.

For further information, please contact us, e.g.