The value and number of payments by cards issued by resident payment service providers were 60 percent up in June 2021 compared to June 2019, due to digitalisation picking up speed in the banking system amid the Covid pandemic, reveals the survey titled DreptulLaBanking, which uses statistical data provided by the National Bank of Romania.According to the cited source, the pandemic restrictions have led to an increase in the use of bank cards in 2020, a trend that has grown stronger in 2021. The number of payments by cards issued by resident payment service providers was 61 percent higher in June 2021 compared to June 2019, standing at 327 million as to 203 million in the pre-pandemic year.The value of card payments increased by 60 percent to 41.4 billion lei at the end of June 2021, compared to 25.8 billion lei two years ago. Compared to June 2020, the increase in the value of card payment transactions was 46 higher, similar to the advance in the number of transactions.There was a total of 19.2 million cards in circulation in Romania at the end of June 2021, by 8.5 percent more than the 17.7 million reported in June 2019, with debit cards accounting for 16.2 million, and credit cards for 2.9 million. Romania thus reports approximately one bank card per person, which is one of the lowest such ratios in the EU, due to the persistent preference for cash payments.The survey on the digitalisation of the banking system in the Romanians' perception conducted in December 2020 by the Romanian Evaluation and Strategy Institute (IRES) reveals an increase in digitalisation compared to previous years, a trend substantially fueled by the health protection measures adopted during the pandemic. 43 percent of the users of financial services use their card for payments to merchants (POS), 27 percent pay via internet/mobile banking, and 61 percent of the respondents said that they withdraw cash from ATMs.The card usage behaviour shows that the share of people who withdraw cash from ATMs is 30 percent lower now than five years ago; however, 50 percent of the Romanians who use banking products and services stated that they never or almost never use the internet banking app and 43 percent do not use the mobile banking app, the IRES survey found.
Bergenbier celebrates three decades of presence on the Romanian market, consolidating its status as an emblematic brand in the beer industry. On this occasion, the brand celebrates the authentic moments that have united generations of friends around a beer. In the spirit of this anniversary, Bergenbier brings back the famous slogan "Friends Know Why", launched […]
Digital Nation and the Ministry of Education and Research announce a partnership for the implementation of Saro, a concrete and functional AI-based solution, in schools and universities across Romania — the most significant step within the ministry’s initiative to integrate Artificial Intelligence into education. The Ministry of Education and Research will support the implementation of […]
Apple and Nvidia, the world’s two most valuable companies by market capitalization, pledged over USD1tn towards the US electronics supply chain, presenting themselves as strategic allies in reshoring and industrial sovereignty efforts. However, a closer look reveals these politically symbolic gestures lack the genuine reshoring shifts claimed, posing hidden economic and geopolitical risks. High-profile promises […]
Symmetrica, the leading local producer of vibropressed pavers and curbs and the largest Romanian manufacturer in its sector, is entering the final phase of construction for its new factory in Bolintin Vale (Giurgiu County). This facility will be the largest concrete paving and slab production unit in both the company’s network and the Southeastern European […]
Young people aged between 16 and 18 in Romania will be able to establish and manage a new type of limited liability company (S.R.L.), which will be called a "firmă de exercițiu" (practice firm) and will have the abbreviation "S.R.L.-F.E.", according to a new project. A young person will be able to establish or acquire […]
Developer Skanska has signed an agreement to sell the first phase of the Bucharest office complex Equilibrium to Gordiusz Private Equity Fund, managed by Gránit Asset Management. The transaction value amounts to EUR 52 million. The Equilibrium office complex consists of two buildings in the business district Floreasca – Barbu Vacarescu. The first phase, which […]
