Will cash disappear? In any case, it is used less and less in France, according to the latest figures from the European Central Bank (ECB). According to these data, cash payments in stores represented 50% of transactions last year. By way of comparison, this percentage reached 68% in 2016 and 57% just before the health crisis.
A trend that is explained, of course, by the increase in bank card (CN) payments, especially for small purchases, thanks to the development of contactless payment. These payments made using NFC technology already represent 56% of card payments, according to the Groupement des Cartes Bancaires.
Risks of power outages or cyberattacks
But if the decline in cash is steeper on average in France than in Europe as a whole, some countries are even less fond of cash than France. In Finland and the Netherlands, the share of cash transactions represents only 20% of store transactions.
Will this gradual decline lead to a disappearance of cash? Sweden tried the experiment well, before finally backtracking in 2020. Several problems arise when one imagines a world without cash. From homeless people to whom we can no longer give a few coins, to the difficulty of a part of the population to adopt digital payment methods, going through the risk of a cyberattack or a power outage… The total disappearance of the cash is unthinkable.
Fewer and fewer dealers
On the other hand, with the decrease in its use, the question of its availability and vending machines arises. Since these are extremely expensive devices to manufacture and operate, banks tend to phase them out. A total of 5,000 disappeared between 2018 and 2021, according to data from the Banque de France. A phenomenon that should worsen with the merger of the distributor network of BNP Paribas, Société Générale and Crédit Mutuel by 2025. We expect to see the number of distributors divided by two.
In addition to these classic distributors generally installed in the windows of bank branches, smaller devices can sometimes be purchased in shops. But they result in a significant commission for the consumer.
Source: BFM TV
