www.ecb.europa.eu
19 December 2024
- Cash most frequently used payment method in stores, although use has continued to decline
- Share of digital payment instruments continues to increase in value terms, with cards still dominant and share of mobile apps on the rise
- Majority of consumers value having option to pay with cash
The European Central Bank (ECB) today published the results of the latest study on the payment attitudes of consumers in the euro area (SPACE). Despite the trend towards digital payments, the number of cash payments remains significant in 2024, especially for small-value and person-to-person payments.
In terms of number of payments, cash is used at the point of sale in 52% of transactions, down from 59% in 2022. In terms of value, cards are the most dominant payment instrument (with a share of 45%, down from 46%), followed by cash (39%, down from 42%) and mobile apps (7%, up from 4%).
The growing share of digital payments is supported by an increase in online payments; these account for…