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Southern Europe, Germany, Austria and Slovenia pay the most in cash

The citizens of the southern countries of the euro area, the Germans, the Austrians and the Slovenes, paid the most in 2016 in cash and the Dutch, Estonians and Finns, who less.

Frankfurt (Germany), Nov 24 (EFE) .- The citizens of the southern countries of the euro area, the Germans, the Austrians and the Slovenes are the ones that paid the most in 2016 in cash and the Dutch, Estonians and Finns, the least.

This follows from a study that the European Central Bank (ECB) published today analyzing the use last year of cash, cards and other forms of payment, including checks or mobile phones, for example.

The use of virtual currencies was not taken into account in the work as a means of payment.

The survey shows that in 2016 79% of all payments at points of sale were in cash, 19% with cards and 2% with other instruments.

in cash it represents 54% of the total, of those made with a card it is 39% and with other instruments 7%.

"The use of cash and cards differs according to the countries place of purchase, the value of the transaction and the demographic characteristics of consumers ", according to the ECB study.

If we consider the number of transactions, the cash it is the most used form of payment in the southern countries of the euro zone, Germany, Austria and Slovenia, countries in which 80% of transactions or more were made in cash.

Sin However, cash was used less in the Netherlands, Estonia and Finland, where between 45 and 54% of transactions were made in cash.

In terms of value, the highest proportion of cash was in Greece, Cyprus and Malta, more than 70% of the total value of payments, while in the Benelux countries (Belgium, Holland and Luxembourg), Estonia, France and Finland was below 33%.

Men pay more often in cash than women, according to the study.

Likewise, consumers 40 and older pay more. cash that young people.

However, adds the study, when consumers are asked their preferred payment method, a majority responds that they prefer cards to cash, despite the fact that they use more the latter.

This contradiction can be explained by the fact that almost two thirds of the payments made in points of sale in 2016 was less 15 euros.

Two thirds of the transactions were made in stores to buy day-to-day items, as well as in restaurants, bars and cafes.

Only 8% of transactions had a value above 50 euros and only 14% was carried out in durable goods stores or gas stations.

In the countries and market sectors where the acceptance of the card is low, the use of cash could be lowered once the infrastructure to make card payments is more available.

In addition, a third of consumers have effective at home as a protective reserve, according to the study.

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