Payments Report 2024

Cash is rarely used and the supply of cash services is decreasing

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More people have a negative attitude to the decline in cash use

Published: 14 March 2024

Although few people pay in cash, an increasing number of people have a negative attitude to the decline in cash use – 44 per cent in 2023 compared to 36 per cent in 2022. The proportion of respondents stating that they would not be able to cope without cash in today’s society has also increased compared to 2022. This may be an effect of increased crisis awareness due to the war in Ukraine. The function of cash as a backup solution when cards and digital payment methods may not work is cited as an important reason why people would not manage without cash. It also highlights the need to be able to pay in cash in certain situations, such as to associations, in small stores and at flea markets. Some also emphasise that using cash makes it easier for them to keep track of their finances. Older people find it significantly more difficult to manage without cash than younger people.