While the use of digital payments is increasing in the euro area, cash still accounts for over half of all point-of-sale transactions, as indicated by a European Central Bank study.
Cash is utilized in 52% of POS transactions, a decrease from 59% in 2022. In terms of transaction value, cards remain the leading payment method, holding a 45% share—down from 46%—while cash follows at 39%, down from 42%.
Mobile apps, although responsible for a smaller portion of POS payments, are gaining traction, comprising 7% of transactions, up from 4% two years ago.
Digital payments continue to represent an expanding segment of overall transactions, bolstered by a rise in online payments. These now account for 21% of daily payments in terms of number and 36% in value, increasing from 17% and 28%, respectively, in 2022.
When it comes to online transactions, cards are the most commonly used method, comprising 48% of payments. Other electronic payment methods, including wallets and mobile apps, account for 29%.
Consumer preferences for payment methods remain largely unchanged. In 2024, as in 2022, 55% of Europeans favor cards and non-cash options in stores, while 22% prefer cash and 23% have no particular preference.
In general, consumers find cards to be faster and easier to use, whereas cash is viewed as beneficial for managing expenses and safeguarding privacy.
Despite the decline in cash usage, 62% of Europeans still believe having notes and coins available as payment options is important. Furthermore, 87% express satisfaction with their access to cash, reporting that it is fairly or very easy to withdraw from an ATM or bank.
Piero Cipollone, an executive board member of the ECB, states, “We are dedicated to ensuring secure, efficient, and inclusive payment options. By supporting both cash and the development of a digital euro, we aim to guarantee that individuals can always choose to pay with public money, both now and in the future.”