Cash payments in Slovakia still popular

The volume of cash payments in Slovakia still dominates the transactions carried out. Finance Minister Ladislav Kamenický specified at Thursday's press conference that their share is 60%. However, compared with the EU average of 80%, Slovakia is not doing that badly. According to the minister, the Nordic countries could serve as an example, as in Sweden only 20% of payments are made in cash. On the occasion of the Cashless Day conference organized by the Bank Card Association, the Finance Minister announced that people should use payment cards to suppress the "grey" economy which still has a high share in Slovakia. At the same time, Slovaks are increasingly using internet banking or mobile banking. According to a survey conducted by IMAS International for the Erste Group 78% of Slovaks currently use internet banking, mostly young people aged 15 to 29.