Plastic money is booming like never before: in the previous year, Austrians removed their debit card 1.3 billion times from their ATM, an increase of 18 percent compared to 2021. The amount converted has also grown to more than 60 billion euros, according to the largest Austrian ATM operator PSA (it belongs to the banks).
In comparison: two years ago there were less than a billion bookings with a turnover of 46.5 billion euros. “We are pleased to have processed a record 10,000 transactions per minute for the first time, nine out of ten were already contactless,” beams CEO David Ostah.
Paying with plastic money is especially popular in retail
The card was especially popular at retail checkouts. We have made these types of purchases 1.2 billion times and debited 45 billion euros directly from our account. The 109 million cash withdrawals at ATMs were relatively small, we only received 13 billion euros.
The fact that new debit cards can also be used for online shopping generated another 3.3 billion euros in turnover.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
