Card payments in the hospitality industry have doubled in 13 years!

Debit cards are accepted at 92% of all hospitality businesses. That is almost double the figure from 2005! In that year, banks and point-of-sale establishments (retail, hospitality, and petrol stations) signed the Payment Transactions Covenant. The aim was to make payments in the Netherlands safer, more efficient, and more reliable. And that goal has been achieved!

In the hospitality industry, card payments are possible at over 92%.

There are over 360,000 payment terminals in the Netherlands. Card payments have been commonplace for years in both retail and petrol stations. In the hospitality sector, the option to pay by card has grown significantly in recent years: debit cards are accepted at 92% of all hospitality establishments, compared to 50% in 2005.

Fewer robberies in the hospitality industry

The decline in the use of cash is making payments in the Netherlands safer. Consequently, the number of robberies at hospitality establishments, retailers, and petrol stations fell from 1,171 to 377 between 2008 and 2017. Damage caused by skimming decreased from €39 million to €1.5 million between 2011 and 2017, primarily due to the introduction of the New PIN system at the end of 2011. Thanks in part to the efforts of the Foundation, consumers no longer pay using the magnetic strip but with the EMV chip in the payment card.

Good cooperation and goal achieved

The Payment Transactions Covenant ends this year. With a ratio of 61% debit card payments and 39% cash payments in mid-2018, the objective has been achieved. The Netherlands is among the leaders in Europe when it comes to growth figures for the number of debit card terminals and debit card payments. Furthermore, the costs of debit card payments have fallen sharply for entrepreneurs in the Netherlands. Banks and point-of-sale institutions, including the hospitality industry, are satisfied with the results achieved. The number of debit card transactions has nearly tripled since 2005: from 1.3 billion in 2005 to over 4 billion in 2018. Partly thanks to large-scale campaigns such as "Pinnen, ja graag" (Debit card, yes please) and "Kleinbedrag? Pinnen mag!" (Small amount? You can debit card!), debit card usage has grown strongly in the Netherlands.

Source: KHN.nl