CodesPromotion.fr, a French online coupon website, recently conducted a survey to find out whether the French still love cash. According to the survey, 56% of them still do. More than half of the population claimed they always have cash on them. In average they carry around 23€. Other studies have also found that one out of two French people keep cash at home.
This survey is in line with previous research on the French’s payment habits. The bank of France has been estimating the percentage of cash payments at 55% of all payments for the past few years. This can be explained by an emotional attachment to physical payment methods, but also by the wide availability of ATM terminals in France, which has grown steadily in the past few years.
For those who do not like to use cash, their choice almost always fall on cards – the most popular payment method in the country after cash. CodesPromotion.fr found that those who always prefer to leave cash at the bank do it because they spend most of their money online (35%), simply prefer to use payment cards (28%), do not feel safe carrying cash around (23%), and are scared they will lose track of their spending (18%).
France has a very particular payments ecosystem with many of them still using checks and other outdated methods. If would like to know more about the payments industry in France, click here to download our country report.
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