A recent survey by Ifop for Monnaie de Paris reveals that French people still have a strong attachment to cash. Conducted as an opinion poll, the study delved into the importance of cash payments in daily life. For the third consecutive year, results show that cash remains the most trusted payment method, with the general population growing more and more (not less) attached to it.

Results: The Frequency of Cash Usage

The survey reveals that cash is the second most used payment method after payment cards, with 74% of respondents using it regularly—up from 68% in 2022. The elderly are the most frequent users at 77%, followed by those under 35 at 73%. Cash is predominantly used in small shops like bakeries and florists and for donations and acts of solidarity. Notably, cash use in supermarkets is on the rise, particularly among younger people, likely due to inflation making cash a practical tool for managing expenses. Importantly, most people who choose to pay with cash prefer it over digital transactions.

Results: Growing Attachment to Cash Payments

The survey analyzes the population’s attachment to cash as part of their daily lives. In 2023, 83% of French people reported being attached to cash payments, up from 79% in 2022. Additionally, 47% reported being very attached to it, compared to 42% the previous year. This attachment is most pronounced among individuals aged 50 to 64 (88%) and the younger generation aged 18 to 24 (86%). The strong attachment is closely linked to trust, as 96% of respondents view cash as a trustworthy payment method, with 63% considering it very trustworthy—significantly higher than cards (48%) or bank transfers (53%).

The Functional Advantages of Cash

The survey highlights numerous advantages of cash, contributing to its strong attachment among the French population. For 94% of respondents, cash is essential for teaching children the value of money, which may explain the high attachment levels among the younger generation. Amid rising concerns about personal data security, 92% see cash as a reliable way to protect their privacy. The recent inflation surge has also underscored cash’s economic benefits: 87% of respondents agree that cash incurs no additional costs, and 82% believe it helps manage budgets better. These factors make cash a reassuring payment method, bolstering its popularity.

Rejection of a Cashless Society

The survey reveals a clear rejection of a cashless society among the French. If digital transactions were the only option, 87% of respondents believe their privacy would be increasingly controlled, 82% think it would exacerbate inequalities, and 80% feel it would harm social interactions. The idea of a cashless world is overwhelmingly rejected, with 83% expressing concern about the potential disappearance of cash, up from 81% in 2022. Even among those who prefer digital payments, a significant majority (72%) is worried about losing cash.

Who are the Researchers Behind the Study (Ifop)

Ifop (French Institute of Public Opinion) is a leading market research and opinion polling organization based in France. Established in 1938, Ifop specializes in collecting and analysing data to provide insights into public opinion, consumer behaviour, and market trends. The institute conducts a wide range of surveys and studies across various sectors, including politics, economics, healthcare, and social issues, helping businesses, governments, and organizations make informed decisions based on accurate and up-to-date information. Ifop is renowned for its methodological rigor and reliability, making it an internationally trusted source of data and analysis.

If the French population have anything to say about it, cash is here to stay. Coins and notes remain the most trusted payment methods the country has. The attachment to cash is strengthening due to its perceived advantages, leading to a clear rejection of a cashless society. Despite the variety of digital payment options, cash continues to play a crucial role in the daily lives of the French people.

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