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208 Europe is Rediscovering the Virtues of Cash

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msmash @ Slashdot · today 09:40 EDT

Europe is Rediscovering the Virtues of Cash

After spending years pushing digital payments to combat tax evasion and money laundering, European Union ministers decided in December to ban businesses from refusing cash. The reversal comes as 12% of European businesses flatly refused cash in 2024, up from 4% three years earlier.

Over one in three cinemas in the Netherlands no longer accept notes and coins. Cash usage across the euro area dropped from 79% of in-person transactions in 2016 to just 52% in 2024. Sweden leads the digital shift where 90% of.

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