Cash Is Still King, but Mobile Payments Are Surging: ECB 2026 Survey

The European Central Bank (ECB) published its latest Survey on the Use of Cash by Companies on 13 August 2026, covering 8,205 firms across all 21 euro area countries . The survey, conducted by Ipsos European Public Affairs from February 23 to April 10, 2026 , reveals significant shifts in how merchants accept payments. Here are the six key findings.

Cash Acceptance Rebounds to 92%

Despite the steady rise of digital payments, cash remains the most widely accepted payment method at physical points of sale. In 2026, 92% of companies with physical locations—shops, restaurants, hotels, and entertainment venues—accepted cash . This marks a recovery from the decline observed during and after the pandemic, when acceptance dipped to around 90% in 2024 . The ECB reports that the downward trend has now paused .

Cash is valued by merchants primarily for its privacy and reliability . The ECB's consumer survey (SPACE) also confirms that consumers still use cash for the majority of point-of-sale transactions: 52% of such payments in the euro area were made with cash in 2024 (the most recent consumer data available) .

Mobile Payments: Near-Doubling to 68%

Mobile payment acceptance—driven by smartphone-based solutions like digital wallets and mobile apps—has seen explosive growth. In 2026, 68% of merchants with physical points of sale accepted mobile payments, nearly double the 37% recorded in the 2024 survey . This makes mobile payments the fastest-growing payment method among euro area merchants, far outpacing cards and credit transfers.

Cards Hold Steady at 88%

Payment cards (debit and credit) continue to be widely accepted, with 88% of physical merchants offering them . While card acceptance has not seen the same dramatic growth as mobile payments, it remains the second-most accepted method behind cash.

Crypto Acceptance Stagnates Below 1%

Cryptocurrency and stablecoins remain a rounding error in merchant acceptance. The ECB's 2026 survey was the first to distinguish acceptance between physical and online points of sale for all payment methods . The headline finding: only 0.2% of online merchants accept crypto assets such as Bitcoin, Ethereum, or Tether . In-store acceptance is similarly marginal, below 1% across all channels . Direct historical comparisons are difficult due to the new methodology, but the figure is consistently negligible.

What Matters Most to Merchants When Choosing Payment Methods

When deciding which payment methods to offer, merchants prioritize three attributes above all others: transaction speed, reliability, and ease of use . These factors are more important than cost or customer preference for the average firm.

However, security and privacy remain critical drivers: 94% of companies cite security and 92% cite reliability as key criteria . About one in three companies (33%) report no preference on how their customers pay . Among those who do have a preference, 24% prefer debit cards, 21% prefer cash, and 14% prefer credit cards .

A Growing Divide Between Countries and Sectors

The survey reveals significant divergence across the euro area. While 94% of cash-accepting firms in 2024 said they expected to continue doing so over the next five years , a growing share of merchants—particularly in hotels, restaurants, and retail—have already gone cashless . The ECB has warned that the rise of automated and digital-only payment models threatens the everyday viability of cash in some member states .

Country-level variation is pronounced. For example, Italy retains a high rate of cash acceptance among small and medium-sized enterprises , while some northern European countries see a faster drift toward digital-only business models. Detailed country-by-country breakdowns are available in the full ECB report .

Key Takeaway

Cash is still the most widely accepted in-person payment method across the euro area and has rebounded from its pandemic-era dip. But mobile payments are catching up fast, while crypto remains a statistical non-factor. The divergence between countries is widening, suggesting that a one-size-fits-all payment strategy may not fit the EU's diverse national markets.