Card payments overtake cash payments in stores for the first time

Even though the French appreciate cash, the credit card remains the most used means of payment. The Banque de France made this observation in a study published on Tuesday: last year, the credit card represented 48% of transactions compared to 43% for cash - 4% for mobile payments and 5% for other means (transfers, checks).

For the first time, card usage has exceeded cash usage in stores. Cash usage has thus fallen by 25 points over the period from 2016 to 2024. This observation contrasts with the situation in the eurozone, where money retains its place as the most widely used means of payment at points of sale, observes the Banque de France.

At the same time, the study shows a jump in mobile payments : with 4% of all payment methods in 2024 compared to 1% in 2019. Despite this, the French continue to appreciate cash. And this, even if they use it less and less. In total, 60% of consumers surveyed consider it important (or very important) to have the possibility of paying with cash, the study highlights.

Unsurprisingly, differences are observed depending on the age of the buyer. For example, the propensity to pay for a purchase in cash for a person aged 40 or over is "significantly higher" than for a person aged 18 to 39. The amount and nature of the purchase also influence the type of payment used.

For example, consumers will tend to pay more for their purchases in cash when they buy in "everyday shops, street vendors or markets", the survey also points out. Conversely, purchases made in "durable goods stores" or hotel reservations are much more often paid for by card. Another observation is that payments by check, direct debit or transfer remain stable, increasing from 4% to 5% of transactions between 2022 and 2024.