The use of cash as the most used means of payment is at an all-time low, but at the same time a vast majority of Spaniards are against its disappearance. This is one of the main conclusions of the fourth barometer on the accessibility and permanence of cash prepared by GAD3 for the Denaria Platform.
«Payment by credit or debit card is the most used means of payment by Spaniards. For its part, a third of the Spanish population continues to use cash as their main payment methoda percentage that represents the lowest in the time series,” indicates the survey, while adding that “the use of cash only exceeds 50% in households with incomes of less than 1,200 euros per month and is higher in older age groups. advanced. The use of the card as a regular payment method is the majority, with 57% of Spaniards according to the study.
Despite everything, «85% of Spaniards are against the disappearance of cash, a feeling especially strong among the elderly (89%), people with lower incomes (88%) and habitual users of cash (96% )». This is something they have influenced Narciso Michavilapresident of GAD3, and Javier Ruperezpresident of Denaria, in the context, for example, of the DANA natural disaster in the Mediterranean arc, when cash has served as the main support for citizens to make their payments.
Likewise, the study highlights that cash continues to be perceived as the method that best guarantees privacy (77%), security against fraud (72%) and accessibility (79%). For 58% of Spaniards, it is also the best option to control expenses and does not depend on having access to the Internet.
«Regarding the importance of cash, This is still relevant for 7 out of 10 Spaniards in 2024being more important for the older population (80%) and people with lower incomes (88%). More than 80% of Spaniards consider cash to be a necessary means of payment, especially among people with lower incomes. However, more than half of the population believes that its use has been difficult in the last year,” says Denaria. The majority of those who consider cash important (92%) do so for privacy reasons, the highest percentage on record. They also highlight reasons such as the reduction of fraud risks (86%), its reliability as a payment method that always works (84%) and its usefulness to control expenses (78%).
Thus, the barometer also highlights the difficulties in accessing cash at this time, something that the aforementioned platform has repeatedly denounced. «In terms of access to cash, in 2024 the perception of difficulty in accessing cash has reached its highest level, especially among middle-aged people and residents of large municipalities. 95% of the population supports the installation of ATMs in all municipalities of a certain size, while other initiatives, such as the cash distribution service through the Post Office (70%) or that businesses act as withdrawal points (68%) , they also have great support,” says the survey.
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