A recent report issued by the Bank of Spain that inquires about how Spaniards use cash for payments has revealed the low degree of confidence they have in a hypothetical digital euro. 65% of the citizens surveyed reported that they would not use the digital euro as they feel comfortable with the payment options available today.
Bank of Spain Report Evidences Cash Preference
A recent report of the Bank of Spain has revealed the low preference that an upcoming digital euro, the proposed European central bank digital currency (CBDC), would have compared to other payment alternatives. The report, which studied the evolution of the use of cash by Spaniards, took a representative sample of 1,606 citizens of the general population and 1,616 linked to small stores and hospitality services.
Cash is still the most used form of payment for Spaniards, according to the report, with 65% of the Spanish population using cash daily. Credit and debit cards follow while payment apps and electronic paymen
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