European Central Bank Warns of Trend Toward Phasing Out Cash Payments

A survey by the European Central Bank (ECB) has shown that nearly 92 percent of businesses in the eurozone—mainly retailers, restaurants, and hotels—accept cash payments, but the trend toward cashless, digital payments is increasing, and the eurozone bank in Frankfurt has assessed that this is not a positive trend. „To guarantee broad openness to cash, it is crucial that the increasing automation of payment transactions does not intentionally hinder or undermine