Euro area consumers' payment behaviour and banking digitalisation

41 Pages Posted: 22 Mar 2023

See all articles by Justus Meyer

Justus Meyer

European Central Bank (ECB)

Federica Teppa

De Nederlandsche Bank

Multiple version iconThere are 2 versions of this paper

Date Written: March 22, 2023


This paper contributes to understanding consumers' payment behaviour and digitalisation in personal finances. We study individuals' payment choices, the availability of cashless payments in everyday situations and the use of banking apps in the euro area. Using the European Central Bank (ECB) Consumer Expectations Survey (CES), we find that most people prefer to use only one payment instrument, mostly cash, partly due to supply constraints in accepting non-cash payments. We also find substantial cross-country heterogeneity. Our results highlight the prominent role of demographic factors in choosing non-cash payment options and app-based tools in managing personal finances. While mobile banking is already popular among euro area consumers, using smart (device) payment methods remains very limited.

Keywords: Consumer Payment Behaviour, Banking Digitalisation, Consumer Expectations Survey (CES)

JEL Classification: D12, C13, O33

Suggested Citation

Meyer, Justus and Teppa, Federica, Euro area consumers' payment behaviour and banking digitalisation (March 22, 2023). De Nederlandsche Bank Working Paper No. 772, Available at SSRN: or

Justus Meyer

European Central Bank (ECB) ( email )

Federica Teppa (Contact Author)

De Nederlandsche Bank ( email )

PO Box 98
1000 AB Amsterdam
Amsterdam, 1000 AB

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