Cash Still King in Euro Area Despite Rise of Mobile Payments

A new survey by the European Central Bank (ECB) has found that cash remains the most widely accepted payment method in the euro area. The survey, which covered 8,205 companies across all 21 euro area countries, found that 92% of companies with physical points of sale accept cash.

This represents a slight rebound from 2024, when 90% of companies reported accepting cash. In contrast, acceptance of card payments remained stable at 88%, while mobile payments saw a significant rise from 36% to 68% over the same period.

When asked why they accept cash, companies cited consumer preference, security, and ease of handling as key considerations. They also highlighted the advantages of accepting cash, such as its privacy and reliability compared to digital payment methods.