The daily average number of processed cross-border payments in Luxembourg through RTGS kept on increasing in 2020. TARGET2 is a system that is used by European central banks and commercial banks to process payment orders in real time (also known as real-time gross settlement or RTGS). In essence, the system allows for the free flow of large-value money transactions between banks from different countries and a harmonized monetary policy in Europe. Retail payments, such as payments with credit cards, are processed by another system though: the Single Euro Payments Area or SEPA.
TARGET2-LU is the Luxembourg component of the TARGET2-system. In 2018, the system processed approximately 5,300 cross-border payments per day. Like in other European countries, credit and debit cards are a popular form of digital payment methods for either physical purchases in brick-and-mortar-stores or for online purchases. In 2017, there were approximately 19 POS transactions per card in Luxembourg, compared to 123 in the Netherlands and 75 in Belgium.
Daily average number of processed cross-border payments through RTGS-system TARGET2-LU in Luxembourg from 2008 to 2020, by type
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Banque centrale du Luxembourg. (January 1, 2021). Daily average number of processed cross-border payments through RTGS-system TARGET2-LU in Luxembourg from 2008 to 2020, by type [Graph]. In Statista. Retrieved December 23, 2024, from https://www.statista.com/statistics/592242/daily-average-number-of-cross-border-rtgs-payments-luxembourg-by-type/
Banque centrale du Luxembourg. "Daily average number of processed cross-border payments through RTGS-system TARGET2-LU in Luxembourg from 2008 to 2020, by type." Chart. January 1, 2021. Statista. Accessed December 23, 2024. https://www.statista.com/statistics/592242/daily-average-number-of-cross-border-rtgs-payments-luxembourg-by-type/
Banque centrale du Luxembourg. (2021). Daily average number of processed cross-border payments through RTGS-system TARGET2-LU in Luxembourg from 2008 to 2020, by type. Statista. Statista Inc.. Accessed: December 23, 2024. https://www.statista.com/statistics/592242/daily-average-number-of-cross-border-rtgs-payments-luxembourg-by-type/
Banque centrale du Luxembourg. "Daily Average Number of Processed Cross-border Payments through Rtgs-system Target2-lu in Luxembourg from 2008 to 2020, by Type." Statista, Statista Inc., 1 Jan 2021, https://www.statista.com/statistics/592242/daily-average-number-of-cross-border-rtgs-payments-luxembourg-by-type/
Banque centrale du Luxembourg, Daily average number of processed cross-border payments through RTGS-system TARGET2-LU in Luxembourg from 2008 to 2020, by type Statista, https://www.statista.com/statistics/592242/daily-average-number-of-cross-border-rtgs-payments-luxembourg-by-type/ (last visited December 23, 2024)
Daily average number of processed cross-border payments through RTGS-system TARGET2-LU in Luxembourg from 2008 to 2020, by type [Graph], Banque centrale du Luxembourg, January 1, 2021. [Online]. Available: https://www.statista.com/statistics/592242/daily-average-number-of-cross-border-rtgs-payments-luxembourg-by-type/
