Greece has emerged as the euro area’s most cash-friendly country, with new European Central Bank data showing cash acceptance among Greek businesses reached 99% in 2026. That rate is the highest in the currency bloc, matched only by Italy among the 21 countries that use the euro.
The finding comes from the ECB’s latest survey on how companies handle cash. Researchers conducted telephone interviews with more than 8,200 businesses between February and April 2026. In Greece, retailers reported a perfect 100% acceptance rate, a distinction shared only with Slovenia, according to the survey.
The results place Greece well above the euro area’s overall cash acceptance rate, which rose to 92% in 2026 from 90% the year before. Researchers said the increase suggests that a decline in cash acceptance, which began during and after the COVID-19 pandemic, has paused.
Greece leads on cash acceptance, but doubts remain ahead
Even so, the survey uncovered a contrast in Greece. Despite the country’s top ranking, 23% of Greek businesses said they were unsure whether they would keep taking cash over the next five years.
That uncertainty was far higher in Cyprus, where 51% of businesses questioned their cash future. Cyprus also posted the lowest overall acceptance rate in the euro area, at 76%, while Belgium followed at 81%.
Beyond cash, other payment methods also grew across the euro area. Card payments were accepted by 88% of companies, up slightly from 87% in 2024.
The sharpest rise came from mobile payments, which nearly doubled from 36% of businesses in 2024 to 68% in 2026. The most commonly accepted mobile payment methods were instant payments and digital wallets, according to the survey.
Industry gaps persist as ECB continues tracking cash trends
Companies that stopped accepting cash gave two main reasons, researchers said. Many, 36%, said their customers simply did not use cash often enough. Another 35% said withdrawing or depositing cash at banks had become too inconvenient.
Cash use also varied by industry. Retail shops, restaurants and hotels reported the highest acceptance, at 93% combined. Arts, entertainment and recreation venues lagged behind at 84%, though that figure also climbed since 2024.
The ECB has run the survey periodically since 2021 to track how businesses across the euro area view cash compared with digital payment options. The goal, researchers said, is to help keep cash a viable and accepted way to pay across the currency bloc.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
