Cash remains king in Spain as 92% reject a cashless society

Cash remains the primary payment method for 57% of Spaniards in physical stores in 2026, unchanged from 2025, according to the Bank of Spain's fifth annual study on cash usage habits. The survey of over 5,000 citizens and 1,600 small businesses reveals that 92% of respondents reject the idea of living in a society without physical money, up four percentage points from last year Source: Infobae.

Key findings

• Mobile payments grow, cards decline: The share of people using mobile devices as their main payment method rose from 15% to 18%, while physical card usage fell from 27% to 25% Source: ABC.
• Cash as a safety net: 71% of respondents value cash as protection against electronic failures and fraud (up from 62% in 2025), and 67% cite privacy as a key advantage (up 11 points) Source: Infobae.
• Generational divide: 48% of 18–24 year olds use mobile as their primary payment method, compared to just 2% of those over 65, who overwhelmingly prefer cash Source: Infobae.

The 'great blackout' effect

ABC notes that the resilience of cash is partly attributed to the major blackout that hit Spain in early 2025, during which digital payments ground to a halt and cash became the only viable option. The Bank of Spain study suggests such events have reinforced the perceived importance of physical money as a backup Source: ABC.

Business perspective

While 61% of businesses now report that most of their sales are made via card or electronic methods (up five points), the share of establishments where cash accounts for the majority of turnover dropped from 39% to 31% in one year. However, cash acceptance remains near-universal Source: ABC.