Cyprus ranks last in the eurozone for cash acceptance

Cyprus has the lowest rate of cash acceptance among eurozone countries, according to a European Central Bank study on companies’ use of cash. In 2026, only 76% of small and medium-sized enterprises in Cyprus accept cash. At the same time, the figure has increased by 9 percentage points compared with 2021.

According to the study, 51% of Cypriot small and medium-sized enterprises believe they may stop accepting cash in the future. At the same time, 92% of companies that currently accept cash intend to continue doing so.

Companies cite customers’ limited use of cash, as well as difficulties associated with depositing and withdrawing cash, as the main reasons for abandoning it.