Why do Spaniards prefer to pay in cash?

Digitalization has conquered many of the pillars of Western society in recent years, among which is one of the most important: money. First it was credit and debit cards that competed with banknotes and coins, and now also smartphones . Nowadays you can pay by simply holding your mobile phone close to the card machine, but many people still prefer cash. The second study by the financial entity Níquel 'Perception and habits of Spaniards regarding the banking sector' reveals that 65% of Spaniards continue to use cash to carry out their usual operations and only one in four uses the card for everything. The reason is that, although paying digitally gives you many facilities, doing it with money has advantages An envelope with several euro bills Archive According to the survey, the main benefit for Spaniards is cost control, since they are more aware of what they have and what they spend than when disbursements are made through digital means.


Plus, you can't spend what you don't have. Privacy is added to this advantage, since a third of those surveyed do not want to have to share with third parties where they spend their money. Another positive aspect of Job Function Email Database paying with bills and coins is that they have no commissions, unlike payments with cards or with mobile phones in some cases. For this reason, there are establishments that force you to pay in cash if you do not spend a minimum amount, since it is not worth charging digitally. read also raquel quelart Horizontal Among the disadvantages of paying in cash, the possibility of losing it or having it stolen stands out. Although it can also occur with a bank card or mobile phone, these have security measures that cash does not have, such as being able to block them so that they cannot be used or requiring a code or other authentication methods, as in the case of smartphones.





Fingerprint reader or facial recognition system. Paid 99% of the population uses cash, according to data from the Bank of Spain The latest data from the Bank of Spain shows that 99% of the population uses cash. In addition, the European Central Bank assures that it was the most used payment method at points of sale in the European Union in 2022, representing 59% of payments. “Since the rise of digitalization of finance, there is the idea that the end of cash is imminent, but year after year cash remains. What's more, the majority of the population is in favor of a cash-based society,” defends Mónica Correia, CEO of Nickel Spain.