Cash and bank cards emerge as preferred payment methods in Europe

Friday 9 January 2015 11:13 CET | News

Although both cash and bank cards emerge as preferred means of payment, more consumers plan to adopt cards instead of cash for future payments, a recent study unveils.

According to a research conducted by Harris Interactive, bank cards in France were more popular than elsewhere, while respondents in Germany were more attached to cash than those in other nations. Those in Italy were more likely than respondents in other countries to look forward to electronic wallets and other innovative payment schemes, while many in Poland were early adopters of contactless cards.

Findings reveal that in Poland at least 80% of those polled said they used cash most often for small everyday purchases, such as grocery items and tobacco. Generally, though, bank cards were used more than any other option for grocery shopping. Respondents in France, particularly, were sold on card transactions for groceries (77%).

Web users were also asked how they felt about older forms of payment vanishing altogether. Paper bank checks were most likely to be judged obsolete. Two-thirds of all respondents said they would be content to see bank checks phased out. Of course, many regional banks are aiming to phase out paper checks and have actively marketed electronic options that are cheaper to provide.

Across the four countries, 74% of those polled did not want cash to disappear. But this figure also masked a major divide in national preferences. More than half (53%) of respondents in Italy said they would be content to do without hard currency. Those in Germany, by contrast, were most likely to say they found cash practical and secure, and wouldn’t want to do without it.

Harris Interactive polled 1,000 adult internet users in each of four countries (France, Germany, Italy and Poland) in September 2014, for Crédit Agricole Cards & Payments.

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Keywords: cash, payments , cards, bank cards, payment choices, online payments, online transactions, Europe
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce