ECB survey: Cash remains euro area’s most widely accepted payment method
What's happening
The European Central Bank's new survey shows cash is still the most widely accepted payment method in the euro area, with 92% of companies selling goods and services from physical premises in retail, hospitality and arts/entertainment accepting it. The survey also finds the pandemic-driven decline in cash acceptance has paused and even reversed in some cases, while digital alternatives continue to grow. Crypto payments are effectively marginal: only 0.2% of companies accept crypto assets, and overall merchant acceptance of crypto 'barely registers.'
Why it's trending
Because fresh ECB data quantifying merchant acceptance (92% for cash, 0.2% for crypto) contradicts assumptions that physical cash has been eclipsed by digital and crypto payments.
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Everyone says cash is dying. The ECB survey says 92% of euro-area stores disagree, and only 0.2% accept crypto.
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Original sources8
- Cash is not dead in Europe… its very much alive
With digital payments continuing to grow, cash has seemingly taken a back seat. But the European Central Bank’s most recent report reveals cash is the most accepted payment method in Europe today. While digital payments continue to surge in popularity, cash has rebounded in usage as European retail businesses reported a rise in acceptance of […]
Payment ExpertAug 18 - Cash holds firm despite euro area’s digital payment pushFinTech GlobalAug 18
- Cash holds firm despite euro area’s digital payment push
The European Central Bank has published new research showing that cash remains the payment method most widely accepted by businesses across the currency bloc, even as digital alternatives continue to gain ground. The findings show that 92% of companies selling goods and services from physical premises in retail, hospitality and the arts, entertainment and recreation […] The post Cash holds f
FinTech GlobalAug 18
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