Alex Trelinski
CASH remains as the most widely used means of payment on a daily basis for 57% of the population in Spain.
A Bank of Spain study says its use though has fallen by 8% compared to last year.
The survey spoke to 5,000 people as well as study of 1,600 small businesses including the hospitality sector.
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Those aged over 55 years of age and with a basic education are the ones who mainly use cash in shops and the main reasons are convenience and habit.
Likewise, the age group between 25 and 54 years old is the one who uses cards the most, and the youngest group (18-24) use mobile phone payments the most(35%).
In stores, cash is still the most frequent means of payment, for 59% of the population, despite the increase in card usage and payments through mobile devices.
In payments between individuals, cash is also the most common means of payment for 63% of the population, followed by Bizum, already used by 33%.
According to the Bank of Spain, no major changes in the use of cash are expected in the coming year, although there are differences between the different age groups and it is young people who are most committed to reducing it (39%).
The ATM continues to be the main source of cash for 75% of people and most have no difficulty with the service they get from machines.
The Bank of Spain stresses that the majority of the population never checks whether or not the banknotes they get are genuine, while half of shops and businesses do.
