Cash or card payment? - Countries that use physical money the most in Europe
According to a survey by the European Central Bank, the share of cash payments continues to decline, while the use of digital methods is expanding. However, banknotes and coins continue to play an important economic role. In the euro area, around 52% of transactions were carried out with cash in 2024. However, this share is lower in value, only 39% of total transactions.
Of the 20 countries in the euro area, in 14 of them, physical cash is the most widely used payment method; in about half of them it accounts for between 45% and 55% of transactions, depending on their number. The figures vary considerably from country to country. In the Netherlands, only 22% of transactions are made in cash, while in Malta this number goes up to 67%.
In southern and eastern European countries, the use of banknotes is particularly high. Italy reports that 61% of transactions are made with physical cash, Spain 57%, and Slovenia 64%.
Meanwhile, countries in Northern and Western Europe are increasingly clearly leading the way in digital payments. The Netherlands makes only (22%) of payments in cash, Finland (27%), Luxembourg (37%), Belgium (39%) and France (43%).
In monetary terms, the share of physical cash in the euro area is 39%, but it varies by country, from just 17% in the Netherlands to 59% in Lithuania. The countries that rely most heavily on cash payments include Lithuania (59%), Slovakia (56%), Slovenia (56%), Austria (56%) and Malta (54%).
While the countries that use physical money the least are the Netherlands (17%), Finland (28%), Luxembourg (29%), Germany (30%) and France (34%).
These data show that, when measured by transaction value, cash payments still hold a significant weight in Central, Eastern and Southern Europe. But in Northern and Western Europe, societies are gradually accepting more modern methods such as digital transactions.
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