Survey shows that digital means of payment are used most for paying in Estonia

Postitatud:

14.01.2025

Tiina Soosalu, Eesti Pank Payment and Settlement Systems Department
Martti Näksi, Head of the Cash Handling Division

A survey last year of the payment behaviour of euro area residents found that the share of payments made electronically is larger in Estonia than in other countries in the euro area. People in Estonia use bank cards or smart devices for 57% of payments and cash for 39%. Cash is more commonly used in points of sale in the euro area as a whole at 52% of transactions, while cards and smart devices are used for 44% of payments. Both those means of payment are convenient and accessible for people, as the survey of payment habits run by the European Central Bank showed.

Euro area residents are using digital means of payment more than before, but they still use cash for the majority of payments. Bank cards, mobile phones and other smart devices were used for 44% of transactions, while cash remained the most popular means of payment in points of sale and was used for 52% of payments, or more than half. The share of payments that are in cash is, however, decreasing. Digital solutions are used more in Estonia than in the euro area on average, and at 57% they account for the largest share of payments. Cash is used for 39% of payments in Estonia. The only countries where digital means of payment are used more than in Estonia are the Netherlands, Finland and Luxembourg, while cash is preferred most in Malta, Slovakia, Austria and Italy. More than 60% of payments in points of sale in those countries are made in cash. Cash is particularly preferred by older people, while smart devices are used most by those aged 24 and under.

Everyday purchases are increasingly being made from online stores. In 2024, 21% of purchases in the euro area were made in online stores over the internet, which was more than in the previous survey. The share of online purchases was even higher in Estonia at 24%. Physical shops were used for 75% of everyday purchases across the whole euro area, and 4% of payments were payments between private people. The most common purchases from online shops were food, at 20%, clothing and footwear at 17%, and then household goods, pharmaceuticals and cosmetics.

Payments between private people in the euro area were made in cash in 41% of cases, while various digital means of payment were used in 53% of cases. In Estonia, 70% of payments between people were digital and 25% were in cash.

Among residents of the euro area, 62% say that it is important to be able to pay in cash. This was a slight increase on the previous survey. In Estonia, 53% of people agreed with this response, while 34% of residents do not consider cash a particularly important means of payment and 13% say it is not important at all. People aged 55 and over place the highest importance on paying in cash. Cash is appreciated most because it preserves the anonymity of the payer. It is also felt that paying in cash allows for a better picture of spending, while settlement is instant and cash is accepted in most circumstances. Those who prefer bank cards also appreciate how simple and quick they are to use, and that they mean it is not necessary to carry cash.

Access to cash was considered good by an average of 87% of residents across the euro area, and satisfaction in Estonia was even greater at 89%. Some reserve of cash is held at home by 35% of residents of the euro area, and Estonia again stands out in this because 44% of residents keep some cash at home. Cash is held even more commonly in Slovakia.

Residents of the euro area considered that the main reasons for starting to use a new means of payment would be security and ease of use. They also found it important that payments should not attract additional costs, and that privacy should be increased.

The survey also found that almost one resident in ten needs help when making electronic payments. This proportion was relatively similar across all age groups, and 8% of residents of Estonia also said that they needed help making payments.

 
 
 
Eesti Pank recommends that people keep enough cash in their wallets to cover any emergency outage in payment systems, and that families should have a week’s supply of cash at home to cover longer outages.


The European Central Bank ran the Study on the payment attitudes of consumers in the euro area (SPACE) in 2024. It has been running similar surveys since 2016 and the next survey will be carried out in 2026.

Additional information:
Hanna Jürgenson
Communications Specialist
Eesti Pank
5692 0930
Email: [email protected]
Press enquiries: [email protected]