Euro Area Businesses Prioritize Cash Amid Digital Payment Gains

Cash remains the dominant payment method in the euro area, according to a recent survey by the European Central Bank. The study found that 92% of companies with physical points of sale accept cash, representing a slight rebound after a decline observed during and after the pandemic.

While card payments remained stable at 88%, mobile payments experienced a significant increase from 36% to 68% over the same period. However, many companies still prioritize cash for its reliability and privacy benefits.

The survey also revealed that 25% of euro area companies have taken steps to promote digital payments, such as investing in cashless payment terminals or reducing the number of tills accepting cash. Meanwhile, 13% of companies have introduced self-checkout terminals.