Cashless Society? Not Yet, ECB Study Shows Cash Holds On

Cash holds on as most used payment type in the euro area according a new study by the European Central Bank. 

Even though the use of cash has declined, well over half of all day-to-day transactions at points of sale, such as shops and restaurants, were made using physical currency in 2022, compared to 79% in 2016. Cards are the second most used payment type (34%), with mobile apps accounting for just 3%.