The True Value
of Cards
Research on the value and cost of cards in today’s dynamic and vibrant payments ecosystem. Based on a survey of merchants and consumers in Europe.
Key Highlights
Relationship with cash
Cash prevalence is declining across Europe
72% of merchants prefer digital payments over cash
48% of merchants would like to have the ability to refuse cash
70% of European consumers make online payments more than once a month
68% of consumers would rather pay with a card at a merchant, even if cash was also available
Payments priorities
Safety and security are by far the top priorities for European merchants and consumers
46% of merchants consider cards the best payment method for preventing fraud
71% of consumers trust their cards more than any other payment method
72% of consumers believe that their money will be reimbursed in the event of card fraud
Market evolution: winners & winners
The European payments landscape is evolving and becoming increasingly diverse, with new payment options gaining popularity
85% of merchants feel that accepting a large range of payment options has increased their turnover
93% of merchants believe that contactless payment has been beneficial to their business
87% of consumers are happy with the payment options currently available.
Card payments: cost and value
Cost is not the most important variable when choosing between payment methods, Safety and security are
83% of merchants believe they pay reasonable fees for the value they receive from accepting card payments
78% of merchants understand the different fees associated with accepting card payments
60% of merchants feel that the cost of cards has not changed or has decreased in the past five years
71% of consumers trust their cards more than any other payment method
true value updates
- True value
Danish consumers and merchants have a strong preference for card payments
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Marked preference for card payments in Ireland driven by security, speed and convenience
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Poland’s payments market is dynamic, digital and competitive according to consumers and merchants
The “Safety, Convenience and Choice: The True Value of Cards” report is based on a survey commissioned by Payments Europe and conducted in 2024. The survey was completed by 2250 merchants working in physical and online retail in Austria (250), Czech Republic (250), Denmark (250), Finland (250), Greece (250), Hungary (250), Ireland (250), Latvia (250), and Lithuania (250). In addition to questions on respondent’s payments habits, the results of which are combined to constitute the report, merchants were asked about what type of business they run (sector of activity), size of their business (number of employees and turnover), their familiarity with the decision-process around payment transactions, and whether they conduct their business online or offline. The online survey was also completed by 13000 consumers living in Austria (1000), Czech Republic (1000), Denmark (1000), Finland (1000), France (1000), Germany (1000), Greece (1000), Hungary (1000), Ireland (1000), Latvia (1000), Lithuania (1000), Poland (1000), and Sweden (1000). Respondents were weighted to ensure representativeness by region, gender, and age. Consumers were also asked about their work status, type of household, income, and general financial situation.
Previous waves of merchant and consumer surveys were also conducted in:
- 2023 (1560 merchants). Breakdown by country: France (264), Germany (252), Italy (263), Spain (271), Sweden (242) and Poland (268).
- 2021 (3223 consumers). Breakdown by country: France (544), Germany (539), Italy (530), Spain (540), Sweden (538) and Poland (532).
- 2021 (648 merchants). Breakdown by country: France (109), Germany (110), Italy (110), Spain (110), Sweden (106) and Poland (103).
- 2019 (3120 Consumers). Breakdown by country: France (520), Germany (520), Italy (520), Poland (520), Sweden (520) and UK (520).
- 2019 (680 merchants). Breakdown by country: France (110), Germany (110), Italy (111), Poland (120), Sweden (120) and UK (109).