Cash remains Spain's top payment method despite mobile growth

Cash remains the primary POS payment method for the general public in Spain, especially among people over 55 and those with lower educational attainment, driven by habit, convenience, and spending control.

Meanwhile, mobile payments are gaining ground rapidly, particularly among the under-35s.

For person-to-person payments, cash use has declined sharply as Bizum has surged to become the top option for individuals under 45. Among small retailers, restaurants, and bars, cash is still accepted everywhere, but cards and mobile devices are seeing increased daily usage.

Notably, 43 percent of establishments report that electronic methods account for the majority of transaction values.

The Banco de España survey, conducted with Ipsos through over 6,500 interviews, highlights significant regional disparities in financial access.

In municipalities lacking a stable bank branch presence, residents face mounting difficulties obtaining cash, including longer travel times, greater reliance on private transport, and more frequent ATM or counter fees.

Conversely, alternative cash-access methods like Correos Cash or in-store cashback remain largely underutilized due to consumer preference for traditional channels.

Furthermore, public awareness of the proposed digital euro remains low, with only 20 percent expressing willingness to use it alongside existing payment options.