Covid-19 could accelerate decline in cash

In this period of confinement linked to the global pandemic of Covid-19, the French are abandoning cash. During the week of March 23 to 29, withdrawals from ATMs dropped by 60%, or even 76% in Paris, notes the Groupement des Cartes Bancaires. Admittedly, since the closure of so-called non-essential businesses, the French have consumed much less. But they are also changing their payment habits. Increasingly, they favor payment by bank card or via a mobile phone to the detriment of coins and banknotes on which the coronavirus could remain attached. Since the start of containment, contactless card payments (37% of payments in February) have increased by 4% on average, with a more marked increase in pharmacies (+10%) and bakeries (+6%). Consumers are often encouraged to change their habits. More and more convenience stores indicate on their storefront no longer

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