Cypriot businesses lead eurozone in lowest cash acceptance rate, study shows
Only 76% of Cypriot businesses accepting cash at physical locations marks the lowest rate in the eurozone, according to 2026 figures from the European Central Bank. This contrasts starkly with countries like Greece and Italy, where 99% of businesses continue to take cash payments. The eurozone average stands at 92%, indicating widespread retention of cash despite growing digital payment trends.
The data suggests Cyprus is shifting more rapidly towards electronic payments compared to other member states, reflecting changes in consumer habits and business operations. While cash usage remains significant, a larger proportion of Cypriot businesses appear to limit or forgo cash transactions in favour of cards and mobile payments.
Despite the rise in digital methods, 92% of businesses still accepting cash across the eurozone intend to maintain this option over the next five years. This highlights that cash remains an important component of the payment ecosystem, valued for its reliability and convenience alongside expanding payment technologies.
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