France, European champion in cash withdrawals from ATMs. This is demonstrated by a study carried out by the company Wise. However, contactless payment methods have become more popular since the health crisis.
France is among the European champions for cash withdrawals from ATMs, according to a study carried out by the company Wise, which specializes in cash transfers in Europe. According to her, “in France, each month, withdrawals of 110 euros on average are made at the distributor”. A sum well above the European average of 90 euros.
In Europe, only Greece does better, with an average withdrawal of 120 euros. Italy is on an equal footing. In our neighbors the amount is much lower since in Spain and Belgium, it is only 90 euros. In Eastern Europe: Germany, Hungary, Poland and Denmark the amount rises to 80. Portugal and Switzerland bring up the rear, with an average of 50 euros withdrawn each month.
A currency replaced by contactless
However, if the French are still attached to their cash, according to this study, it tends more and more to disappear thanks to cashless.
A few years ago the means of payment were less: credit card, cash or checks. Today practices are changing, since you can pay with your phone, your watch or even your connected ring. Contactless is also multiplying thanks to cards, applications or even the telephone. The possibility of a cashless society therefore appears possible.
And if contactless is so much in demand, it is because it offers many advantages. During the pandemic it was generalized. Something that Luc, a merchant in Toulouse, observes on a daily basis. “Since the Covid we have hardly anyone who pays by change, it’s not hygienic, people are afraid to use cash.” On the user side, the argument most put forward is that of speed and practicality.
Some places resist the map
If the blue card is used more and more, certain places resist, like the market. At that of the Carmelites in Toulouse, some merchants have chosen not to accept payment by credit card. A requirement deemed to be not very restrictive for buyers like Sylvain, who “adapts according to demand”.
There are others who don’t need to adapt. Jacques came to buy fruit and vegetables at a stand he is used to. This buyer swears by cash, which he uses much more often than the credit card. “For small sums, those below ten euros, I often use a ticket. Paying in cash allows me not to have lengthy account statements, which is better.” A method that is far from being a constraint for some traders, especially those who work with small producers, like Maxime: “We, it suits us, at least we have money to pay them”.
Having banknotes on you is also a question of generation. According to a study by Panorabanques, among those under 34, one out of two people never goes to an ATM to withdraw money.