- Digital payment methods continue to grow in Europe, offering speed and convenience to consumers.
- While cash remains dominant in Austria and Germany, contactless card payments have become the preferred method in all other surveyed European countries.
- 1 in 2 consumers wants to use instant payments.
Dublin, March 13, 2025 – The latest edition of the Europe-wide payments study by management and technology consultancy BearingPoint highlights a clear trend: digital payment solutions are continuing their steady rise across Europe. When it comes to person-to-person payments, digital payment solutions offered by payment service providers such as Revolut in Ireland (59%) lead the way, with 89% of respondents in Denmark and 86% in Sweden relying on them for transactions. Instant payments are also gaining traction, with every second respondent expressing interest in using them.
Cash is still king in Austria and Germany, while contactless card payments are number 1 in the other surveyed European countries
Despite the growing adoption of digital payments, cash remains the most frequently used payment method in Austria and Germany. In Austria, 73% of respondents report frequent cash usage, while in Germany, the figure is 69%.
In contrast, contactless card payments have become the most widely used payment method in the other surveyed European countries. The Nordic countries, in particular, stand out for their strong adoption of contactless cards, with Finland (89%), Denmark (76%), and Sweden (75%) reporting the highest usage rates. By comparison, cash usage in these countries is significantly lower, with only 46% of Finns, 35% of Danes, and 28% of Swedes stating they frequently use cash.
Sweden and France show an especially strong preference for card payments over cash. In both countries, even traditional (non-contactless) card payments are used more frequently than cash. In Sweden, 41% of respondents report using non-contactless card payments, while in France, the figure has risen to 57%.
Digital payment methods continue to gain ground in Europe, with strong differences in adopting these methods between age groups
Across all surveyed countries, respondents anticipate increased use of digital payment methods, particularly card and mobile payments, over the next two years. Ireland leads the way, with 40% of respondents expecting to increase their use of card payments and 39% planning to use mobile payments more frequently. Sweden follows closely, with 38% of respondents foreseeing increased card usage and 37% planning to adopt mobile payments more extensively.
Interest in cryptocurrencies remains relatively low. Switzerland has the highest percentage of respondents (11%) expressing interest in more frequent cryptocurrency usage, followed by Austria and Ireland at 9% each. Denmark and Finland show the least enthusiasm, with only 3% of respondents in each country planning to use cryptocurrencies more often.
Generational differences are evident in payment preferences. Younger respondents (ages 18–34) are the most likely to increase their use of mobile payments (42%) and cryptocurrencies with 14% (ages 18–24) and 15% (ages 25–34). However, when it comes to card payments, the 18–24 age group leads with 35%, followed by an unexpected second-highest increase among those aged 55+ (33%). The 35–44 age group shows the least interest in increasing card payment usage.
One in three expects a move away from cash in the next decade
On average, 38% of respondents expect a shift away from cash over the next ten years. This expectation is highest in Ireland (49%) and Denmark (56%).
In countries where cash remains widely used, the expectation of moving away from it is lower. Only 33% of respondents in Germany and 28% in Austria anticipate a significant reduction in cash usage over the next decade.
Cash remains the dominant payment method in Germany and Austria. In the other countries in the survey, especially the Nordic countries of Finland, Denmark and Sweden, the use of cash is already significantly lower. Cryptocurrencies or the digital euro / CBDC are often mentioned as an alternative to cash. While only 7% of respondents currently express interest in using cryptocurrencies for payments, one in three would consider using the digital euro.
Christian Bruck, Partner and expert for payment transactions at BearingPoint
Digital payment methods score points for speed and convenience, while cash remains valued for familiarity and anonymity
Respondents associate cash with familiarity and anonymity, while digital payment methods are valued primarily for their speed and convenience.
Beyond these core benefits, specific digital payment methods offer additional advantages. Contactless cards are seen as more hygienic, traditional (non-contactless) cards are perceived as secure, and digital payment services are valued for providing instant payment confirmation.
Triumphant advance of digital payment solutions for person-to-person transactions
The use of digital payment solutions for person-to-person (P2P) transactions continues to grow across all surveyed countries. Austria and Finland saw the most significant year-on-year increase, with an 8-percentage-point rise in adoption.
In Denmark and Sweden, digital payments have become the clear preference for P2P transactions, far surpassing traditional methods such as cash or bank transfers. In Denmark, the local provider Mobile Pay is the frontrunner for digital P2P transactions with 89% of respondents, while in Sweden 86% of respondents use the Swedish mobile payment system Swish for this purpose. Similarly, Revolut is the leading payment method for P2P transactions in Ireland, with 56% of respondents making use if it.
Digital payment adoption does not impact experienced issues, fears or troubles
Despite varying levels of digital payment adoption across countries, experienced issues, fears or troubles remain similar across all markets. Respondents in both high-cash-usage countries (Germany, Austria) and high-digital-payment-usage countries (Sweden, Denmark, and the Netherlands) report similar concerns.
Among those who expressed concerns about digital payments, the most common issues cited were technical problems, data security risks, and fears of fraud or misuse.
Instant payments are on the rise; every second respondent wants to use them
On average, one in two respondents intends to use instant payments in the future. Interest is highest in Ireland (63%) and France (67%).
Younger generations show the strongest interest in instant payments, with 68% of respondents aged 25–34 and 65% of those aged 18–24 expressing a willingness to use them. Even among the 55+ age group, 35% expect to adopt instant payments.
The survey shows that digital payment solutions are increasingly popular, gaining traction due to their modern, secure, and fast nature. Irelands high willingness to use instant payments presents an opportunity for local payment providers. It was also interesting to note that in relation to increased use of digital payment methods over the next two years, Ireland leads the way, with 40% of respondents expecting to increase their use of card payments and 39% planning to use mobile payments more frequently.
Martin Deere, Head of Finance and Regulatory at BearingPoint Ireland
About BearingPoint
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: Consulting, Products, and Capital. Consulting covers the advisory business with a clear focus on selected business areas. Products provides IP-driven digital assets and managed services for business-critical processes. Capital delivers M&A and transaction services.
BearingPoint’s clients include many of the world’s leading companies and organisations. The firm has a global consulting network with more than 10,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success.
BearingPoint is a certified B Corporation, meeting high standards of social and environmental impact.
For more information, please visit:
Homepage: www.bearingpoint.com
LinkedIn: www.linkedin.com/company/bearingpoint
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Martin Deere Ireland
