Cash continued to be the most widely accepted and used payment method in the euro area in 2025, according to a European Central Bank survey released Thursday. The ECB’s study, covering 19 countries that share the euro, found that physical currency accounted for 59% of all transactions, maintaining its lead over digital alternatives despite a gradual decline in its use over recent years.
The survey, which tracks payment habits across the eurozone, highlighted that cash was particularly dominant for small-value transactions, representing 73% of payments under €20. Even as contactless card usage and mobile payments have grown, the ECB noted that cash retains strong consumer and merchant preference for its speed, universality and lack of reliance on technology infrastructure.
ECB Executive Board member Piero Cipollone said the findings underscore the importance of maintaining a robust cash ecosystem, including access to banknotes and ATMs, as digital payment methods evolve. "Cash remains a critical public good, ensuring financial inclusion and resilience," Cipollone said in a statement accompanying the report. The survey also revealed that while the share of cash payments fell from 72% in 2022 to 59% in 2025, its absolute volume of transactions remained stable due to overall growth in economic activity.
The ECB’s data contrasts with some industry forecasts that had predicted a sharper decline in cash usage amid the rise of digital wallets and instant payment systems. However, the central bank emphasized that cash’s role in fostering trust and transparency in transactions continues to underpin its enduring appeal, particularly in times of economic uncertainty or technological disruption.
The survey, conducted annually, polled over 40,000 individuals and businesses across the euro area, providing a comprehensive snapshot of payment trends in the bloc.
