The Evolution of Payment Preferences in Europe

Despite a strong appreciation for cash among consumers, its usage is declining in Germany and throughout the eurozone. People are increasingly favoring card and mobile payments, especially for transactions exceeding 50 euros.

This shift indicates a complex relationship with cash, which remains valued for its control and anonymity. The European Central Bank is promoting both cash and the digital euro to secure the future of public money.

Meanwhile, interest in cryptocurrencies is rising, further complicating the landscape. The EU Commission and the ECB are advocating for a swift transition to digital payments, raising concerns about the implications for traditional banking and cash access.