The National Bank of Belgium presents an analysis of the impact of euro banknotes and coins on the use of the Proton electronic purse.
The paper - authored by K Roefs - examines the influence of the introduction of the single European currency on the use of Proton.
Before the arrival of the new currency (June 2000 - November 2001), the use of Proton had been growing slowly, but steadily. During the introduction phase (December 2001 - February 2002), growth rates surged, but slowly went into decline from March 2002 to July 2002. From this moment on, the use of Proton more or less stagnated, but at a level of use significantly higher than before the currency switchover.
The overall conclusion is that conversion to the new currency acted as a stimulus to Proton growth, both in terms of card numbers and intensity of use.
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