90.8% of the population highly values instant payments, 87.6% does so for physical card payments, and 82.5% for mobile payments, according to a recent Inmark survey.
However, what is truly important is that consumers have a wide range of payment options available to them, as is the case in Spain. The ultimate decision on the payment method should rest with the consumer, depending on the moment, their needs, or their experience.
In the case of cash payments, this is supported by generational and cultural factors, or the traditional consideration of physical money as a safe asset. And this is especially important when planning our holidays.
According to the 2024 Financial Inclusion in Spain report recently published by IVIE, Spanish deposit institutions have, in addition to their network of 17,411 branches and 30,569 ATMs located within them, 3,702 more ATMs in municipalities without a branch. Additionally, they have a network of 4,495 financial agents and mobile branches, and agreements with businesses at 11,564 cash access points through cashback and another 2,347 through a cash-in-shop network. The agreement reached by most entities with Correos is also important for small municipalities.
If we add the network of private company ATMs, the total number of cash access points rises to 83,124. No private sector in Spain has a similar physical network. And we are at the forefront at a European level.
Specifically, the Correos Cash service makes cash management easier across Spain, in any municipality, although it is especially significant in rural areas. The ultimate goal is for all citizens, regardless of their age, digital capabilities, or place of residence, to have access to cash with the least possible travel.
Through the 4,679 post offices and the extensive network of rural postmen, cash can be accessed even at your own home, wherever it may be. The process is very simple, depending on the format enabled by the bank and also on each person’s preferences.
Spanish banking is highly capillary. It seeks a balance between physical and digital presence, always responding to the demands of its customers. It cannot be otherwise.
An example is the rapid growth of Bizum payments. By the end of last year, more than 28.2 million people were using it, with an average of 3 million daily operations, equivalent to 35 Bizums per second. Payments between individuals and also e-commerce payments, which doubled in 2024. Its age distribution is also very significant, with those under 18 and those aged 55 and over experiencing the highest growth (40% among 65 to 74-year-olds).
When it comes to paying, the minimum is to have the maximum facilities to do so. Direct debits for bills and salaries are among the most valued services by customers, as are transfers. But away from home, we must have the same facilities.
According to the Bank of Spain, the greater digitalization of payment methods is significantly impacting how consumers pay: the use of mobile devices in physical commerce has doubled since 2022, although cash and cards remain the most common methods. Banks are committed to making this possible at all times and from anywhere.
José Luis Martínez Campuzano, Spokesperson for the Spanish Banking Association
