Bright future for cash in the Netherlands
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96% of Dutch retailers accept cashMoney in physical form such as banknotes and coins. More payments although statistics vary depending on the sector. Petrol stations have the highest acceptance rate for both paperSee Banknote paper. More and plastic, followed by large retailers. While in the entertainment sector the figures are the lowest: 87% for cash, whereas only 55% accept cards.
Statistics show that the majority of Dutch retailers try to accommodate client paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More preferences by providing the freedom to choose their favored check-out tool. Typically, only first-time entrepreneurs favor non-cash payments and billing due to cash maintenance and safety concerns.
The study conducted by the DNB showed the probability of retailers’ cash acceptance in one and five year period. While less than 2% forecasted shifting away from cash in 12 months, the rate increased to 10% for 2022. The reasons cited are the prediction that customer demand for cash will drop and fear of robbery, for 9% and 18% respectively. In contrast 23% confirmed that they are determined to always accept cash and 28% were unable to cite a single reason to completely shift from cash to plastic. Ultimately, cash is here to stay. The National Forum of the Payment System highlighted the importance of cash to ensure the proper functioning of the economy and to maintain accessibility and stability of the payment system.
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