The Most Sympathetic Payment Methods in Europe: A Deep Dive into Consumer Preferences
Niklas Damhofer
When we think about payments, convenience and security usually take center stage. But what about emotional attachment and trust? A recent Marketagent study across 10 European countries, surveying 26,584 people aged 14 and older, sheds light on which payment methods Europeans find most "sympathetic"—or in other words, which they feel most comfortable and secure using.
The results reveal a clear winner: cash remains the most beloved payment method in Europe, with 82% of respondents rating it highly, reaching a staggering 91% in Austria. But what about other payment methods like credit cards, mobile payments, and cryptocurrencies? Let’s explore the findings and what they mean for businesses and consumers alike.
The Most Sympathetic Payment Methods in Europe
1. Cash – The Undisputed Champion (82% in Europe, 91% in Austria)
Despite the rise of digital payments, cash remains the preferred and most trusted payment method in Europe. The numbers speak for themselves:
82% of Europeans find cash sympathetic.
91% of Austrians prefer cash, the highest in the survey.
This strong preference is driven by habit, security, and privacy concerns. Many people feel that cash transactions provide the most control over spending, especially in uncertain economic times.
Why Do People Love Cash?
Tangible and familiar – Many consumers still feel more in control when handling physical money.
Widely accepted – Unlike digital payment methods, cash works everywhere, even in small shops.
Privacy-focused – No digital footprint, making it a preferred option for those who value financial privacy.
2. Credit Cards – The Digital Alternative (80% in Europe, 74% in Austria)
Closely following cash, credit cards remain a highly sympathetic payment method across Europe.
80% of Europeans consider credit cards a comfortable way to pay.
74% of Austrians view credit cards favorably, slightly lower than the European average.
With benefits like convenience, rewards programs, and fraud protection, credit cards strike a balance between security and ease of use. However, they still face barriers in regions where cash culture remains strong.
Why Do People Trust Credit Cards?
Secure and widely accepted – Protection against fraud and global usability make them a reliable choice.
Convenience – Contactless payments and online shopping drive their popularity.
Financial flexibility – Many people appreciate the ability to defer payments or earn rewards.
3. Mobile Payments – Growing, But Not Yet Universal (61% in Europe, 47% in Austria)
Despite the push towards a cashless society, mobile payments like Apple Pay, Google Pay, and PayPal still face varying levels of acceptance.
61% of Europeans have a favorable view of mobile payments.
47% of Austrians feel comfortable using them—significantly lower than the European average.
While mobile payment adoption is strong in tech-driven markets, countries with a deep-rooted cash culture (like Austria, Germany, and Switzerland) are still catching up.
Why Are Mobile Payments Lagging?
Security concerns – Fear of fraud or hacking keeps some users hesitant.
Acceptance issues – Not all businesses, especially small ones, accept mobile payments.
Preference for physical transactions – Many consumers still enjoy the experience of handing over cash or a card.
That said, as digital natives become the dominant consumer group, mobile payments will likely continue to grow.
4. Cryptocurrencies & Digital Currencies – The Least Trusted (21% in Europe, 14% in Austria)
The biggest loser in the sympathy rankings? Cryptocurrencies and digital currencies.
Only 21% of Europeans consider crypto a sympathetic payment method.
A mere 14% of Austrians find digital currencies appealing.
Despite the hype around Bitcoin, Ethereum, and central bank digital currencies (CBDCs), most people remain skeptical. The reasons?
Volatility – The unpredictable value of cryptocurrencies makes them unreliable for everyday transactions.
Lack of regulation – Many consumers don’t trust a system without central oversight.
Limited usability – Few retailers accept crypto as a payment method.
However, as governments explore regulated digital currencies (like the digital euro), we may see a shift in sentiment in the coming years.
What Do These Findings Mean for Businesses?
The key takeaway from this survey is that payment preferences vary significantly by country and culture. Businesses should consider these insights when optimizing their payment strategies:
In Austria and Germany: Cash should remain a strong payment option, as it’s still widely favored.
For digital-first markets: Mobile and card payments should be prioritized with fast, contactless experiences.
For future-oriented brands: Crypto and digital currency support could be a long-term investment, but isn’t essential just yet.
Bottom line: Offering multiple payment options ensures a smoother checkout experience and higher customer satisfaction.
Conclusion: Balancing Tradition and Innovation in Payments
The Marketagent study reveals that consumer trust in payment methods is deeply rooted in familiarity and perceived security. While cash and credit cards still dominate, mobile payments are rising, and cryptocurrencies have a long way to go before reaching mainstream acceptance.
For businesses, the message is clear: Know your audience and offer the payment methods that make them feel most comfortable.
Cash remains king in Austria and many parts of Europe.
Credit cards offer security and global acceptance.
Mobile payments are growing but still need wider adoption.
Cryptocurrency payments are far from mainstream acceptance.
As technology and consumer habits evolve, the businesses that embrace both tradition and innovation will have the greatest competitive advantage in the evolving payments landscape.