About 41% of respondents to a recent survey say they have reduced their use of cash. [7] The vast majority of them expect to continue to pay less with cash after the pandemic is over. [8] Against this background, the Eurosystem has a responsibility to ensure that costless, risk-free payment options remain available to all. This includes ensuring continued access to cash.
The second trend we need to respond to is the evolving structure of the payments market, which risks becoming both more fragmented and more concentrated in each segment. On the one hand, the acceleration towards digital payments is adding to the diversity of payment methods. But it is also increasing market fragmentation and complexity.