Consumers are paying more than a third less with their debit card since the first corona measures were announced. ING reports this on Friday based on pin transaction data.
Last week, the number of transactions at the physical stores was almost 35 percent lower than in the same week a year earlier. As of March 15, the total number of debit card transactions showed a clear downward trend.
Consumer purchases are shifting further to online. The number of payments to web shops has increased by about 25 percent. Nevertheless, this does not compensate for the decline in physical debit card transactions. Consumers are therefore more economical with spending money, says ING.
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