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The French remain attached to cash

2021-10-24T13:06:22.157Z


According to a study conducted for the Monnaie de Paris, eight in 10 French people still want cash, especially for small daily payments.


Some like to always have a reserve under the mattress, others still regularly have large sums on them.

If contactless payment by credit card has greatly developed during the covid-19 pandemic, they do not forsake their good old money, ringing and stumbling.

According to a survey conducted by Ipsos for the Monnaie de Paris, a large majority of them prefer cash for small everyday purchases or for acts of solidarity.

Read also Who are these French people who hide cash under their mattresses

Thus, 91% of French people questioned declared that they regularly use cash, while 70% use them

"on a daily basis"

.

This regular use of cash is

"not the prerogative of a particular target"

, underlines the survey, but concerns all socio-demographic profiles.

Only 9% of those surveyed said they never used cash.

Small payments

The use of cash is particularly important for small everyday payments.

87% of those questioned declared that they used cash at small traders and 72% at vending machines.

In addition, the French still use their cash a lot to make donations.

Thus cash holds a real place of choice in the hearts of the French, with 83% of them declaring that they are attached to it.

Among the reasons that push them to use cash is the free use but also the ease of exchanges between individuals.

In addition,

"the materiality of cash makes it a means of transmitting the value of money to the youngest"

, further notes the study.

Read alsoBCE: the Covid-19 crisis has boosted the demand for cash

According to the study, dematerialized payment methods provoke "

an ambivalent reaction

".

“We lend them functional advantages (saving time for 89% of people, simplicity for 72%) in the same proportions that they worry about by their discriminating nature - [because excluding part of the population] - and the lack of transparency of their ecosystem,

”explains the study.

In addition, 83% of the people questioned say they are

“worried about the disappearance of the species”

.

A feeling shared by the daily users of this payment method (87%) but also by those who prefer dematerialized payments (73%).

Freedom of choice

For Marc Schwartz, Chairman and CEO of Monnaie de Paris,

“this study confirms the attachment of the French to cash as a means of payment, despite the development of dematerialized alternatives.

The freedom to choose between means of payment remains, more than ever, a pillar of confidence in money.

The study also shows that fiat money is perceived not only as practical and easy to use, but as a vector of social bond.

Beyond its daily use, cash continues to play a role in our society, for transmission between generations, education, and solidarity ”.

Source: lefigaro

All news articles on 2021-10-24

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