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Contactless payments drive debit card costs down further

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The cost of an average debit card transaction for a business has fallen further over the past three years. This decline is largely due to the growing use of contactless payments. Contactless payments are faster, which reduces the cost of debit card payments.

Infographic with the text 'For merchants, pin is on average 12 cents cheaper than cash' and three circles: pin costs €0.17, contactless €0.15 and cash €0.29 per transaction, with an explanation that these are average transaction costs for merchants.

An average cash payment now costs a business 70 per cent more than a standard debit card payment. This is shown by research conducted by Panteia on behalf of the Foundation for the Promotion of Efficient Payments into the cost of point-of-sale payments in 2017.

Read the full press release from the Foundation for the Promotion of Efficient Payments on PIN.NL (in Dutch)…

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