Law, Tax, Compliance
Payment preferences in Luxembourg: Key insights from 2025
Published on 25 February 2025
The ABBL has published a new infographic highlighting key insights into payment preferences in Luxembourg, based on the 2024 Survey on the Payment Attitudes of Consumers in the Euro Area (SPACE) conducted by the European Central Bank. The study, which included more than 1,000 respondents in Luxembourg among 20 participating EU countries, offers a valuable snapshot of the evolving payments landscape.
Summary
Key findings include:
- Cash: Despite increasing digitalisation, 29% of Luxembourg citizens find the option to pay with cash in stores very important.
- Digital payments: Luxembourg ranks second in Europe for digital payment adoption, with 95% of transactions being cashless in 2024 (up from 88% in 2022).
- Peer-to-peer transactions: One in three residents uses a mobile payment app to transfer money to others.
- Instant payments: With 72% of citizens having access and 57% actively using instant payments, Luxembourg is second only to the Netherlands.
- Security: 47% of Luxembourgers prefer maintaining a second authentication method, and 25% appreciate using biometric identification.
- Crypto assets: 12% of citizens own crypto assets, representing a 33% increase since 2022.
The ABBL Payments Cluster (PCL), which brings together over 60 executives from banks, payment institutions, consulting and law firms, continues to facilitate dialogue and collaboration on payment trends and regulatory developments. Recent topics of focus within the PCL include the Instant Payments Regulation, Verification of Payee solutions, and discussions around the Digital Euro and PSD3/PSR frameworks.
Bettina HELLING
Adviser - Payments & Digital
Published on 25 February 2025