Payments in the Netherlands: Dutch Moving Towards a Truly Cashless Society

03 Nov, 2020 . 4 minutes

The Netherlands population is 17.1 million with around 22.5 billion euros in ecommerce market value. Debit and credit cards dominate and showed a 10 percent annual growth at the end of 2019.

Debit card transactions have risen from 4.28 billion transactions totaling 108 billion euros in 2018 to 4.70 billion transactions worth 116 billion euros in 2019. Meanwhile, credit card transactions numbered 34.3 million worth 3.21 billion euros in 2018 and grew to 38.4 million transactions worth 3.34 billion euros in the same period.

Consumers are increasingly using contactless card payments. By the end of 2019 the use of contactless payments with debit cards and credit cards had increased from 2.25 billion transactions worth 33 billion euros in 2018 into 3.04 billion transactions worth 51.3 billion euros. The Dutch expect the growth of cashless payment to continue this year.

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