Payments Cost €45 Billion In The EU, ECB Study Reveals

A new report released by the European Central Bank (ECB) yesterday analyses the social and private costs of making retail payments in 13 European countries and discovers that they are substantial, amounting to around €45 billion, or almost 1% of their combined GDP. If extrapolated to cover the 27 Member States of the European Union (EU), these costs would be around €130 billion.