Most used in-store (POS) payment methods in Belgium 2017-2023, with 2027 forecast
The share of cash in Belgium's in-store payments continued to decline in 2023, as consumers increasingly used cards. Coins and paper money had half the market size in 2023 than they had in 2017, which can likely be attributed to the growing use of contactless card payments during Belgium's COVID-19 lockdowns. Note that Belgium's declining cash use and growing use of contactless is more significant than it may initially sound: Before the pandemic BelgiumĀ had one of the lowest contactless penetration rates in all of Europe.