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Guaranteeing freedom of payment choice: access to cash in the euro area

Author

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  • Zamora-Pérez, Alejandro

Abstract

In the digital age, innovation in retail payments is influencing payment choice and transforming the payment landscape. However, survey evidence indicates that for the largest share of transactions at the point of sale euro area citizens choose to pay in cash, and some of them have no other payment option. It is a responsibility of central banks to ensure adequate access to cash to guarantee consumers’ freedom to choose their method of payment and to prevent financial exclusion. This article describes the situation as regards access to cash in the euro area and the ongoing work by the Eurosystem to ensure that access to cash remains adequate. JEL Classification: E58, E41, R12, G21

Suggested Citation

  • Zamora-Pérez, Alejandro, 2022. "Guaranteeing freedom of payment choice: access to cash in the euro area," Economic Bulletin Articles, European Central Bank, vol. 5.
    • Handle: RePEc:ecb:ecbart:2022:0005:2
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    More about this item

    Keywords

    Access to cash; ATM network; bank branch closure; financial inclusion; spatial analysis;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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