Cash or card? Which payment method does Europe prefer?

Consumers make purchases at different shops and markets every single day. But how do they pay for them? The European Central Bank has conducted an in-dept survey into the payment attitudes and preferences of consumers in the Euro area. Read along and find out what your customers prefer: cash or card.

CASH IS KING

Despite the rapid increase and development of different digital transaction platforms, cash still is the most used payment method at physical point-of-sale locations. In 2024, more than half (52%) of all point-of-sale transactions (in the euro area) were completed using cash.

The second most used payment methods are debit and credit cards (39%). The third and fourth most popular payment methods are mobile payments (6%), and other (4%).

CARDS HOLD THE HIGHEST VALUE

When we look at the total value of all point-of-sale transactions made, we see that card payments are actually more popular (45%) than cash payments (39%). This means that in general people prefer to use their debit or credit card when making more expensive purchases. Which makes sense when you look at the spread-payment options and built in insurance that some credit card plans provide.

Another contributing factor to the high value of card payments is the new cash limit ruling that the European Union implemented at the start of 2024. This ruling states that payments made with cash cannot exceed the limit of €10.000. If anybody in a member state wants to make a purchase that does exceed the limit, they will have to pay the remaining amount via a different method (for example using their debit or credit card).

On top of the set limit, member states of the European Union are also allowed to tighten the limit if they see fit. Countries such as France and Spain have even lowered their cash limit (for individual payments) to €1.000.

WHO WINS IN 2025?

With the digitalisation of the world, it would be easy to assume that the popularity and value of card and mobile payments will grow in 2025. However, the research of the European Central Bank does show that as of now, cash is king (in most European countries) and will not be disappearing anytime soon. So whether your prefer cash or card, it is important that your business is equipped to properly handle both.

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The following sources have been consulted and used as references in this article:
https://www.ecb.europa.eu/stats/ecb_surveys/space/html/ecb.space2024~19d46f0f17.en.html
https://www.europe-consommateurs.eu/en/shopping-internet/cash-payment-limitations.html

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1.	Your bank must support the service. If you aren’t sure, ask your bank.
2.	You must have an authentication medium. Maestro payments over the Internet are protected by an authentication medium. Depending on the bank, this may be a card reader, a password, or something else. Contact your bank if you don’t yet have an authentication medium.
3.	You must have received a SecureCode. To make payments over the Internet using your Maestro card, you must have a SecureCode. If you don’t have one, contact your bank.

1.	Go to www.safescan.com and log in to your Safescan account (or create one, if you don’t already have one).
2.	If you purchased your item at Safescan.com, go to your order history and click on the “return request” option. Complete the form to submit your request.
3.	If you purchased your Safescan product from one of our authorized dealers, go to “My returns” and fill in the form to submit your request. (You will need your purchase invoice or receipt for this.)
4.	We will contact you by e-mail as quickly as we can with further instructions on how to return your product. These instructions will include your return label and unique RMA return number. Please wait for these instructions before returning your product to us; without both the return label and RMA number, we cannot accept your return.

1.	Go to www.safescan.com and log in to your Safescan account (or create one, if you don’t already have one).
2.	If you purchased your item using your Safescan account, go to your order history and click on the “return request” option. Complete the form to submit your request.
3.	If you purchased your Safescan product from one of our authorized dealers, go to “My RMAs” and fill in the form to submit your request. (You will need your purchase invoice or receipt for this.)
4.	We will contact you by e-mail as quickly as we can with further instructions on how to return your product. These instructions will include your return label and unique RMA return number. Please wait for these instructions before returning your product to us; without both the return label and RMA number, we cannot accept your return.

Cash or card? Which payment method does Europe prefer?

FREE SHIPPING FROM €50

3 YEAR WARRANTY

20 YEARS OF EXPERTISE