Southern European Digital Payments Snapshot

According to the European Central Bank, in 2019 Spain and Italy were two of the Eurozone countries most fond of cash, with notes and coins accounting for 83% and 82% respectively of all instore transac - tions. By contrast, in the Netherlands or Finland, this percentage was less than 35%¹.

In January 2021, Outman Consulting carried out a survey of 2,000 Italian and Spanish consumers. This study confirms the marked preference for cash payments in the largest economies in Southern Europe: 78% of respondents said that, prior to the pandemic, cash was their preferred way to pay for purchases under 10 euros²