Before the pandemic, paying for a coffee with a card was almost unthinkable for many people. Today it is perfectly normal. The method of payment is no longer limited by the purchase amount. The push for strict asepsis and the avoidance of cash during containment measures led to virtually disappearing banknotes and coins from everyday life. Even though the world moved past the health crisis, cash usage has not rebounded as expected. A report by David Navarro shows withdrawals from banks dropped by a third in 2020 and remain about 27 percent below pre-Covid levels. In contrast, point-of-sale terminals, the small card readers used at checkout, have surged by nearly 50 percent compared to three years ago.
Near-field communication, or NFC, enables effortless card and mobile payments but comes with costs for both users and businesses. Card issuers now charge for plastic cards that are no longer free, and each purchase carries banking fees. Retailers benefit from reduced handling of cash and the reliability of digital settlements, yet consumers may feel the price is higher in the long run. The ease of use can also create a subtle detachment from spending, since the tactile feedback of cash is no longer present and people may lose track of how much they have spent.
Yet not everything is a boon. The digital shift in payments has a dark side. Banks are reducing their physical branches, a change that disproportionately affects older individuals who are less comfortable with technology. It is notable that a Valencian retiree, Carlos San Juan, sparked a campaign that earned the 2022 European Citizen prize by challenging banks to better support seniors. San Juan reminded audiences that aging does not imply incapacity, saying, I am older, not an idiot. Banks have begun to respond with more digital training programs and easier paths to managing physical assets as the transition to digital services continues. Three Members of the European Parliament, coming from different parties and regions, sponsored the nomination, underscoring cross-party support for accessible banking. The impact of this shift has shaped public sentiment about financial institutions during a period of rapid digital adoption.
And one more thing:
The economic crisis may arrive with full force at some point, yet certain sectors show resilience. Tourism, for example, remains robust. New data indicate that hotel occupancy has stayed strong, with June figures exceeding the best year on the historical record by several points. A current occupancy around 75 percent bodes well for July, especially as travelers continue to seek spontaneous, last-minute getaways. Government projections suggest that arrivals from mid-year could be preserved at high levels, supporting continued optimism for the tourism sector. Analysts point to sustained demand and favorable booking patterns as the key to weathering potential downturns. The overall tone remains cautiously optimistic about the near future.