Retailers say they expect acceptance of cash to decline gradually in the years ahead. Some have already decided to switch away from cash.
Cash and debit cards are widely accepted
In the survey among more than a thousand retailers, 92% indicate they accept more than one means of payment. In addition to cash, debit cards enjoy ever-broader acceptance. This gives consumers the choice of how to pay, while it offers retailers a fall-back option should one of the means of payment fail temporarily. However, cash acceptance has gradually decreased over the years to 96% in 2020, while debit card acceptance increased sharply recently. In 2020, 92% of retailers accepted debit cards, against 87% in 2019 (see Figure 1). The outcomes from the telephone survey will be validated in practice in a field study in the first quarter of 2021.
Figure 1: Retail acceptance of cash and cards in the Netherlands