De Nederlandsche Bank is concerned about the rift that threatens to emerge in society over the payment system. On the other hand, people’s trust in the Dutch payment system is generally high. On the other hand, there is a group of people who are finding it increasingly difficult to constantly digitize payment services.

In addition to people without the Internet, it is the elderly, people with functional disabilities and people with low literacy who believe that payment systems are deteriorating, according to the DNB in ​​the statement. Payment vision 2022-2025Analyze trends and developments in the payment market.

Possession of cash and the ability to pay with it is essential and important by DNB. A charter will be published in April with banks and interest groups on cash, communications and personal services by banks.

1 out of every 5 cash payments

Year after year, less cash is paid. The vast majority of payments in stores are settled digitally using a debit card or smartphone. In 2015, for the first time in a cash register, payments were made by debit card rather than cash, and in 2019 70 percent were paid by debit card.

Since the Corona crisis, contactless payments are more often made in stores, and more are bought and paid online. Last year, 80 percent of payments were digital. In other words, only one in five cash payments is made on the register.

Due to the digitization of the payment system, the reliance on electronic infrastructure has become enormous. If digital systems fail, it can lead to disruption of payment systems and economic and social harm.