A European Central Bank (ECB) survey reveals that fewer than one in 500 euro area businesses selling goods and services online accept crypto assets, with cash remaining the dominant payment method. The report, based on a survey of 8,205 businesses across 21 euro area countries, highlights a stark contrast between the slow uptake of digital currencies and the rising use of mobile payments, which increased from 36% in 2024 to 68% in 2026.
Cash continues to be the most widely accepted payment method, with 92% of companies with physical points of sale accepting it, up slightly from 90% in 2024. Physical card acceptance also rose marginally, to 88% from 87%, while bank check usage fell to 27% from 36%. The ECB noted that 26% of businesses cited consumer preference as the primary factor in choosing payment methods, though 36% of those rejecting cash attributed it to weak customer demand.
The report underscores regional disparities, with 51% of cash-accepting small and medium enterprises in Cyprus reportedly considering phasing out cash, compared to 23% in Greece and 18% in Bulgaria. The ECB declined to speculate on whether merchants might underreport crypto payments, such as those converted through third-party services into traditional currency, and referred questions about regulatory clarity to the European Commission and national lawmakers.
Mobile payments’ growth has outpaced that of crypto and stablecoins, which showed minimal expansion. The ECB’s findings come as the institution continues to explore the development of a digital euro, though the report highlights the challenges posed by low adoption rates and unresolved regulatory uncertainties surrounding crypto acceptance in the euro area.
Written by Kate Harper
Economics Desk
