Cash Acceptance Pauses in Euro Area as Mobile Payments Surge

The European Central Bank (ECB) conducted a survey on the use of cash by companies in the euro area in 2021, 2024, and 2026 to understand their views on cash payments. The key findings indicate that the decline in cash acceptance observed during and following the COVID-19 pandemic has paused.

In 2026, 92% of companies that sell their goods and services in physical locations reported accepting cash, up from 90% in 2024. Physical card payments are accepted by 88% of companies, while mobile payments have seen a significant increase, with 68% of companies reporting acceptance.

Cash is most frequently accepted in the retail trade, restaurants, and hotels sectors (93%), but less often in the arts, entertainment, and recreation sector (84%). Among euro area countries, Greece and Italy have the highest cash acceptance rates (both 99%), while Belgium and Cyprus have the lowest (81% and 76%, respectively).

Among companies that accept cash, 92% plan to continue doing so in the next five years. Companies cited reasons such as lack of customer use and inconvenience or difficulty with depositing or withdrawing cash for not accepting cash.