Crypto Payments Remain Rare Among Euro Area Merchants: ECB Report

Crypto assets remain a marginal payment option for businesses across the euro area, according to a new European Central Bank survey. Just 0.2% of companies selling goods online accept crypto, while acceptance at physical stores stayed below 1% in both 2024 and 2026. Cash remains the dominant payment method, accepted by 92% of businesses with physical locations. The ECB surveyed 8,205 companies across 21 euro area countries, covering retail, hospitality and entertainment sectors, with Ipsos conducting interviews between February and April.

Mobile Payments See Sharp Growth

While crypto stagnated, mobile payments saw the biggest shift among payment methods, jumping to 68% acceptance in 2026 from 36% in 2024. Digital wallets like Apple Pay and Google Pay led this growth. Physical card acceptance rose slightly to 88%, and cash edged up to 92%, while bank check acceptance dropped sharply to 27% from 36%.

Consumer Demand Drives Merchant Decisions

Businesses cited consumer preference as the top factor in choosing payment methods, followed by security and ease of handling. Among merchants who reject cash, weak customer demand and difficulties depositing or withdrawing cash were the most common reasons. Outlook on cash use varies widely by country, with 51% of small businesses in Cyprus considering dropping cash, compared to just 18% in Bulgaria.

Ambiguity Around What Counts as Crypto Acceptance

The survey asked merchants whether they accept crypto assets or stablecoins, citing Bitcoin, Ether and Tether’s USDT as examples. However, some crypto payment services let merchants receive settlement in traditional currency even when customers pay in crypto, and the survey did not clarify whether such transactions should count as crypto acceptance. The ECB declined to speculate on whether this could lead to underreporting, and said it does not set payment regulation, directing questions about merchant crypto rules to the European Commission and national lawmakers.