Cash remains a popular means of payment in Europe, but its use continues to decline

This article was last updated on January 21, 2025

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Cash remains a popular means of payment in Europe, but its use continues to decline

Although cash is still the most commonly used payment method at the cash register in Europe, its use continues to decline. Of all EU countries, the Netherlands is the least likely to pay with cash, according to research by the European Central Bank (ECB).

More than 50 percent of all payments within the European Union were settled in cash last year. In 2022 that was still almost 60 percent.

There are major differences in the use of cash. In countries such as Malta, Austria and Italy, more than 60 percent of all payments are made in cash, but in Finland and the Netherlands this is less than 30 percent.

Of all EU countries, the Netherlands pays the most with a debit card and we also use our mobile phone most often to make payments: almost one in five payments.

35 euros

The fact that we pay less and less with notes and coins is reflected in the amount of cash we have in our pockets. At the start of the day, the average Dutch person carries 35 euros in cash. The European average is 59 euros.

According to the ECB, many European countries consider it important that shops accept cash. This also applies to countries such as Belgium and Finland, where consumers regularly pay with their debit card or mobile phone. The Dutch attach a lot less importance to the acceptance of cash.

The number of Dutch people who are concerned about privacy with digital payments is also relatively limited. It concerns 32 percent. That is the lowest percentage in Europe. Portugal has the highest percentage with 69 percent.