Consumers in the euro area paid less than half their purchases, in total value, with cash in 2019, according to a study published Wednesday by the European Central Bank (ECB) which is working on the possible launch of a digital euro.
The inhabitants of the nineteen countries of the zone last year used coins and banknotes for 73% of their retail purchases in volume, and for 48% in value, details the ECB.
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In a previous study carried out in 2016, the figures were respectively 79% in terms of the number of transactions and 54% in value of these transactions.
As the value of the transaction increases, the cards are more likely to be used.
Thus, in 2019, payment cards totaled 24% of the number of transactions but 41% of their value.
In addition, 4% of purchases in value went through a mobile phone or direct debit, against less than 1% in number, in particular because contactless payment is still unavailable in some countries, explains the ECB.
The Spaniards prefer cash
Regarding the number of transactions, the Spaniards (83%), Italians (82%) and Germans (77%) are among the most committed to paying their purchases in cash, against 59% of the French and 34% of the Dutch.
In value, the share of cash shows large differences between countries, ie 66% in Spain, 51% in Germany, 25% in France and 22% in the Netherlands.
While wanting to guarantee access to cash throughout the euro area, the ECB wants to "
promote innovation in digital payments
", said Fabio Panetta, member of the ECB's executive board, who recalled the work carried out "
on the possible issue of a digital euro
”.
Read also: No increase in banknote withdrawals, cash supply assured (Banque de France)
The ECB is working on a “
digital euro
”, which it could launch in 2021 as an electronic form of central bank money, existing alongside cash.
