Bank of Estonia: Card payments at all-time record levels in June

Residents of Estonia made an average of more than 1 million card payments a day in points of sale in Estonia in June, an all-time record with a total value of €18.5 million, the Bank of Estonia (Eesti Pank) announced on Monday.

Five years ago, 97 percent of the purchases made with bank cards were in physical points of sale and only 3 percent were in online stores, but in March and April this year the share of bank card payments made online was up to 14 percent.

The number of card payments was 10 percent higher than in June last year, and the turnover was 12 percent higher, and the figures were the highest ever recorded for June.

The relaxation of the restrictions has brought people back into shops, but it may be expected that in future a much larger share of purchases will continue to be made through e-commerce, the central bank announced in a press release.

The pandemic caused a lot of everyday purchases such as food and other primary goods to move to internet stores. Bank cards were used for 123,000 online purchases a day in June this year, which was 2.5 times as many as in June 2019.

An average of €3.4 million a day was spent in Estonian and foreign e-commerce stores, which is a little less than in spring this year but 75 percent more than two years ago.

Read more: ERR.EE

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