Pandemic accelerates decline in eurozone cash usage – ECB
During 2016-19 cash gradually declined as means of payment, but was still first option
The Covid-19 pandemic has accelerated the decline in cash usage as a means of payment in the eurozone, a European Central Bank report says.
According to a survey carried out in July 2020, 40% of respondents reported they have used cash less often since the crisis started. The ECB report on payment attitudes of consumers, published today (December 2), focuses on the period 2016–19. It also includes a snapshot illustrating how the pandemic is affecting consumer behaviour this year.
The survey
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