A first in local shops: card payment overtakes cash

The bank card is on the rise. In 2024, for the first time, card payment became the most used means of payment in local shops in France, surpassing cash payments. This is what a study by the Banque de France published online on February 25 reveals. Last year, the card represented 48% of transactions, compared to 43% for cash.

The share of cash payments fell by 25 percentage points between 2016 and 2024, while card use gradually increased over this period, from just 27% in 2016.

In comparison, the eurozone continues to favour cash. 52% of transactions are made in cash, compared to 39% by card. Here too, the share of cash transactions is gradually decreasing, with a decrease of 27 points since 2016.

At the same time, mobile payments will experience the strongest growth in France between 2022 and 2024, while other payment methods such as transfers, direct debits or checks remain stable. Mobile payments will thus increase from 2% to 4% of transactions between 2022 and 2024. Payments by check, direct debit or transfer will increase from 4% to 5% of transactions between 2022 and 2024.

Within the eurozone, the growth in mobile payments follows a similar trend: it has doubled in two years, going from 3% to 6% of transactions.

However, although the use of cash is declining, a majority of French people continue to attach great importance to this method of payment. In 2024, 14% of French people say they prefer to pay in cash, a figure that is stabilizing. By comparison, 62% of consumers favor bank cards. Despite this trend, 60% of French people consider it important, or even very important, to have the possibility of paying in cash.

Finally, although the share of cash has decreased, the accessibility and acceptance of cash in stores remains considered satisfactory by the majority of French consumers.