More Retailers Refuse Cash Payments

By Netvora Tech News

A growing number of pharmacies, movie theaters, and parking locations in the Netherlands are declining cash payments, according to research by De Nederlandsche Bank (DNB) among 5,000 stores and 900 market stalls.

Cashless Payments on the Rise

In 2024, 38% of movie theaters refused cash payments, up from 27% in 2023. The percentage of pharmacies rejecting cash payments also increased, from 16% in 2023 to 21% in 2024. Additionally, 21% of parking locations in the Netherlands do not accept cash payments.

Urban-Rural Divide

Widespread adoption of cashless payments is mostly seen in larger cities. In urban areas with more than 175,000 inhabitants, one in ten sales points only accept card payments, while in rural areas with fewer than 5,000 inhabitants, one in 100 sales points operate cashless.

The research found that the majority of stores with "pin only" stickers were located in Flevoland and North Holland, while the sticker was least common in Zeeland.

DNB Concerned

De Nederlandsche Bank emphasizes the importance of cash payments being accepted. "Without cash, some people will find it harder to make purchases, while paying should be easy for everyone," a spokesperson said. The Dutch government is also working on a legislative requirement for businesses to accept cash payments.

Conclusion

The shift towards cashless payments has significant implications for the Dutch retail landscape. As more businesses opt out of accepting cash, concerns about accessibility and inclusivity grow. Netvora Tech News will continue to monitor this development and provide updates as more information becomes available.