With Nebo Djurdjevic, Executive Vice President, Cardis Enterprises International
Small payments (less than €15) have always been made predominantly in cash. There have been many studies to explore the size of this market, and all have concluded it is immense.
Until recently, many corporates have perceived SWIFT as the preserve of the banking community.
European markets see around €40 billion of low value cash transactions each year.
Currently, nearly 80% of all personal retail payments in Europe – roughly 180 billion transactions per year – are still cash-based, at least 60% of these are for less than €25.