Moldova Goes Cashless: Payments Surge 35%
A recent report indicates that cashless payments in Moldova surged by 35% in 2023. However, despite this growth, a preference for cash persists among some segments of the Moldovan population.
National Campaign Launched to Promote Cashless Payments
In an effort to further encourage the adoption of cashless transactions, the Association of Banks of Moldova launched a nationwide information campaign titled "No Cash" that will run from April to September of this year.
Study Sheds Light on Barriers to Cashless Adoption
To understand the factors influencing payment behaviour, a local Moldovan consulting company conducted a study that interviewed 30 individuals between the ages of 30 and 67. The study revealed that the primary reasons for continued cash use among older demographics are ingrained habits and a lack of digital literacy, with some individuals expressing concerns about security risks associated with cashless transactions.
Government Officials Highlight Economic Benefits of Cashless Transactions
Speaking at the campaign launch, the Minister of Economic Development and Digitization, Dumitru Alaiba, emphasised the significance of electronic payments for fostering transparency within the Moldovan economy. He underscored the government's commitment to developing a robust and transparent economic system, highlighting that widespread adoption of cashless transactions would be instrumental in achieving this goal.
National Bank Voices Support for Cashless Payments
Representatives from the National Bank of Moldova also expressed their support for the "No Cash" campaign and the broader initiative to promote cashless payments. Governor Anca Dragu emphasised the numerous advantages of cashless transactions, including enhanced security, faster processing times, and greater convenience for consumers. She clarified that the campaign is not intended to eliminate cash altogether but rather to introduce citizens to the benefits and ease of using cashless payment methods.
Number of Bank Cards in Circulation Shows Upward Trend
Data indicates that the number of bank cards in circulation within the Republic of Moldova reached nearly 3.3 million at the close of 2023. This represents an 18% increase compared to the same period in the preceding year.
Translation by Iurie Tataru
