According to the data of the Polish National Bank, in the first half of 2021, the value (221 billion PLN) and the number of non-cash payments (3.3 billion) were the highest in history. In contrast, we used ATMs at a record rate – the number of withdrawals was the lowest since this data was available and amounted to 234 million – writes Jaroslav Sadovsky, Senior Analyst at Expander Advisors.
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The expert noted that “the number of deposits in the CDM has increased again” due to the fact that “we have more and more of these machines”. The analyst wrote: “Their number has exceeded 9000. Despite the regular growth, more than half of them are still ATMs (21.7 thousand).”
Card payments are more and more popular
“Card payments are growing in popularity,” he added, and “it’s not just about how much we spend with them.” “The increase in value is evident because wages and prices of many different commodities are rising, and therefore automatically and the amounts of payments. However, the number of transactions was also record breaking, confirming that we are dealing with a real increase in the popularity of this type of payment ”- we read in analysis.
“This is partly the effect of the fact that there are more and more stores and service points where you can pay with a card. In the middle of the year, there were as many as 786,000, which is 79,000 more than last year. In addition, cashless payments are also becoming more convenient. According to data NBP, all payment terminals allow contactless payment. At the same time, more and more Poles have smartphones that can be used to make such payments. People who use this option do not have to take a wallet with them. We are always with us “- said Sadowski.
“Furthermore, there is the impact of the coronavirus – many people started paying with the card after there were concerns that the virus might be carrying the virus on the banknotes,” he explained. According to the analyst, “it allowed to break old habits and various kinds of fears”, moreover, “during the epidemic, online shopping has developed significantly, in which payment is most often made without cash.”
ATMs are losing popularity
“If we pay with cards more often, we need a lot less cash,” Sadosky noted.
“In the first half of the year, we made 234 million payments. This is the lowest number since the NBP published such data, that is, since the first half of 2005. It is very surprising that a year ago the most severe restrictions were in force and we could not even leave the house For some time. Also compared to 2005, when there were less than 8.5 thousand ATMs in Poland. Now we have more than 21 thousand, and yet we withdrew even fewer “- the expert noted.
“The value of payments (161 billion PLN) was 1.5 per cent higher than in the previous year,” Expander analyst wrote in a comment. According to Sadowsky, “Not much, considering that in the spring of last year we panicked with cash to the point that the ATMs were empty for some time.”
“Compared to the level of two years ago, we have a decrease (by 3%) in the value of wages, despite the fact that wages and prices have increased significantly since then” – he emphasized.
More and more CDM
He also noted that “we used CDMs quite often – we made 36 million payments.” “This is the highest number in history. This is largely due to the fact that the number of cash deposit machines, unlike ATMs, is increasing. In the middle of the year there were already 9,017, which is a record. However, it is more than half ATM The latter was 21,715 (434 less than last year) – wrote.
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