In the first half of 2020 just over 15,700 counterfeit euro banknotes were withdrawn from circulation in the Netherlands. This was 23% less than in the first half of 2019. The decrease was most marked in the second quarter of 2020 (-47%) and can be attributed to the economic lockdown in the...Read more
Acceptance of cash is high
Consumers in the Netherlands can choose their preferred method of payment at most retailers. Although the use of cash at points of sale is declining, broad acceptance by retailers is also important – for example as a fall-back option in the event of POS terminal disruptions. The study, in which over 1,000 retailers participated, shows that cash is still the most widely accepted means of payment for point-of-sale transactions, at 97% (see Figure 1). Debit card payments are the next most popular payment method, with acceptance standing at 87%. There are substantial differences between individual sectors, however. Acceptance of cash and debit cards is the highest at petrol stations, large and small retailers, at >=98% and >=92%, respectively. It is the lowest in the entertainment sector, at 93% for cash and 80% for debit cards. A mere 3% of all retailers said they used a debit card-only policy, mostly for efficiency and security reasons.