It’s been almost 20 years since the first bank card was issued in Romania and today there are officially almost 14 million active cards on the local market, totalling €34 billion in transactions. Yet almost 82% of this transactions are actually just withdrawals, while around 18% are direct payments in offline stores.
Meanwhile, a huge 94% of Romanians use plain cash for their expenses. Many people still distrust banks and their system, although they have been the most interested parties in (online) data security until now. This is one of he reasons why the banks insist on the European Union and national governments to develop good legislative environments. Especially because they also can benefit, as the cards serve for fighting financial evasion.
Those who do make use of their cards more are also more inclined to adopt the internet banking services, and then the mobile payment possibilities. Because they see it as more simple, more comfortable, and universal (aka: available at any time). The boost in mobile payment adoption is thought to continue until 2017. There are 3 million online banking users right now and there is a lot of place for growing!