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Estonians shun cash with bank cards than ever

Xinhua, July 24, 2015 Adjust font size:

More and more Estonians than ever are using debit cards and credit cards to make their daily payments, instead of cash, the Estonain central bank said on Friday.

Almost 700,000 card payments are conducted in Estonia every day, over three times more than 10 years ago, which forms 75 percent of all internal payments in the country, compared to 65 percent in 2005.

The number of cash withdrawals has also declined by roughly 35 percent, said the central bank on its official website.

Estonia's success as an e-state started largely due to introduction of online banking in the 1990s. Today, practically all banking transactions are done electronically. Endit