VALLETTA (MALTA) (ITALPRESS/MNA) – Cash remains king in Malta, where 67% of transactions were made with banknotes in 2024, even as Europe shifts rapidly toward digital payments, new ECB data shows.
Across the eurozone, cash accounted for 52% of transactions by number, but only 39% by value, according to the European Central Bank survey of 40,000 participants. The figures underline a widening divide between regions: Southern and Eastern Europe continue to rely heavily on banknotes, while Northern and Western nations lean increasingly on cards and mobile payments.
Italy (61%), Spain (57%) and Slovenia (64%) join Malta at the top of Europe’s cash-reliant economies, while the Netherlands (22%), Finland (27%) and Luxembourg (37%) register the lowest shares of cash transactions. Among major economies, Germany (53%) remains just above the eurozone average, while France (43%) has already moved decisively toward digital-first payments.
When measured by value, cash plays a significant role in Lithuania (59%), Slovakia (56%), Slovenia (56%), Austria (56%), Malta (54%) and Croatia (51%). By contrast, the Netherlands sees only 17% of its spending settled in cash.
Respondents cited anonymity and privacy (41%) as the biggest advantages of using cash, followed by better expense awareness (35%) and immediate settlement (30%). Still, younger consumers increasingly prefer digital methods, while people over 65 continue to use cash for more than half of their purchases.
The ECB report highlights a key turning point: although digital payments are expanding quickly, cash still anchors everyday transactions in large parts of Europe.
– Photo IPA Agency –
(ITALPRESS).
