{"id":15259,"date":"2020-08-26T11:27:59","date_gmt":"2020-08-26T11:27:59","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=15259"},"modified":"2020-08-26T11:27:59","modified_gmt":"2020-08-26T11:27:59","slug":"3-projections-for-covid-19-s-impact-on-payments-in-europe","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/3-projections-for-covid-19-s-impact-on-payments-in-europe\/","title":{"rendered":"3 projections for COVID-19\u2019s impact on payments in Europe"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The COVID-19 pandemic has put a spotlight on consumer spending habits in times of crisis, and rightfully so. But it\u2019s also important to consider its impact on the payments industry. Here are 3 projections for how the pandemic will shape payments in Europe going forward:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Cash usage will continue to decline.<\/b><span style=\"font-weight: 400;\"> In fact, the decline in its usage will most likely accelerate as greater numbers of people become accustomed to using cashless payment methods and merchants incentivize digital payment solutions. Overall, cash usage in Europe is expected to decline 11% in 2020.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Point-of-sale turnover will drop sharply and then rebound.<\/b><span style=\"font-weight: 400;\"> Point-of-sale turnover is expected to hit a low point in the late summer\/early autumn, but it will begin to rebound shortly after. Overall, point-of-sale turnover is expected to decline 3% (as compared to its 8% growth between 2018 and 2019).<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Payment acceptance revenues will shrink. <\/b><span style=\"font-weight: 400;\">Revenue from payment acceptance is projected to decline significantly, although some companies will be more impacted than others. For example, commercial card issues specialized in travel and entertainment will likely face a challenging year. Overall, payment acceptance revenues are expected to drop between 7% and 14%.&nbsp;<\/span><\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-15259 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Smart POS Terminal Usage to Increase Over the Next 5 Years'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/smart-pos-terminal-usage-to-increase-over-the-next-5-years\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/07\/489a7938-2b6e-e888-7eaf-172451e8c4c91-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16175\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16175'>\n\t\t\t\tSmart POS Terminal Usage to Increase Over the Next 5 Years\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='LendingClub&#8217;s fall from rock star status'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/lendingclub-s-fall-from-rock-star-status\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/02\/lendingclubs-fall-from-rock-star-status-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12293\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12293'>\n\t\t\t\tLendingClub&#8217;s fall from rock star status\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='2019 SME banking innovations in Eastern Europe and Central Asia'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/2019-sme-banking-innovations-in-eastern-europe-and-central-asia\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/07\/d3cac96f-f596-45f9-871b-f7f6f3f1d6fb1-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15129\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15129'>\n\t\t\t\t2019 SME banking innovations in Eastern Europe and Central Asia\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The COVID-19 pandemic has put a spotlight on consumer spending habits in times of crisis, and rightfully so. But it\u2019s also important to consider its impact on the payments industry. Here are 3 projections for how the pandemic will shape payments in Europe going forward: Cash usage will continue to decline. In fact, the decline &hellip;<\/p>\n","protected":false},"author":12,"featured_media":15260,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,16],"tags":[],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15259"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=15259"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15259\/revisions"}],"predecessor-version":[{"id":15261,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15259\/revisions\/15261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/15260"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=15259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=15259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=15259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}