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Lusa - Business News - Portugal: Restaurants lose €354.4M in card payments in April YoY - central bank




Lisbon, May 25, 2020 (Lusa) – Restaurants and retail trade in Portugal lost €354.4 million and €316.3 million in April, compared to the value transacted with cards in the same month last year, the country's central bank 'Banco de Portugal (BdP)' said on Monday.
According to the BdP, the restaurant and commerce sectors were the most affected by the "unprecedented" reduction in payments in April.
In a detailed analysis of the retail sector compared to April 2019, the data showed that card purchases rose 209% in the purchase of household appliances (up €44.7 million) and 109% in the fruit and vegetable sub-sector (up €6.6 million).
In absolute terms, the greatest increase in card purchases occurred in supermarkets and hypermarkets (an increase of €144.9 million) and, in the opposite direction, the greatest reduction in absolute terms occurred in the motor vehicle fuel sub-sector (less €67.6 million).
With the closure of physical stores, the adult clothing sub-sector - which in April 2019 was the second most relevant in the retail trade - fell by 99%, from €155.3 million to just €1.6 million.
The strong negative impacts of Covid-19 on tourism were also evident in April.
"With the suspension of flights and the closing of borders, tourism almost came to a standstill: withdrawals by non-Portuguese citizens in Portugal fell 67% in number and 62.3% in value (less 743,000 operations worth €80.9 million) compared to April of last year," it said.
Regarding purchases, the drop was even more accentuated: 86.6% in number and 87% in value (less 6.1 million purchases worth €355.7 million).
Purchases with contactless technology grew, in comparison with the same period, 44% in number and 123% in value, with the average value of these operations rising from €17.8 in March to €21.3 in April, as a result of the increase in the maximum limit of contactless payments to €50.
The weight of purchases with contactless technology in total purchases with cards has also increased significantly: in February 2020, 11.6% of purchases with cards were made with contactless technology and, in April 2020, 17.4%.
Purchases with contactless technology were mostly made in the retail sector (81.2% in number and 85.5% in value).
Online purchases from Portuguese merchants increased 21% in quantity and 53% in value in April.
Purchases made from foreign sites decreased by 18% in value and grew 10% in quantity.
In global terms, the relative weight of online purchases in the total of purchases made with cards increased from 7% in number and 8.1% in value in February 2020 to 11.2% and 10.8%, respectively, in April 2020.
"This confirms a change in the payment habits of the Portuguese during the period of the Covid-19 pandemic, with growth in contactless payments and online payments,” the BdP said.

ICO/IMYN // AYLS
Lusa


Agency : LUSA

Date : 2020-05-26 09:43:13







 

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