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The preference for using cash remains strong among Finns, with 95% of citizens considering it crucial for cash to continue being a valid payment method alongside digital alternatives. This sentiment is particularly prevalent among the elderly and those residing in smaller towns, with only 7% supporting the idea of completely abandoning cash transactions. According to a recent study conducted by IRO Research for Nosto ATMs, these results highlight the significance of cash as a secure and reliable payment option for many Finns.
The ongoing conflict in Ukraine and concerns about supply security have affected the attitude of nearly one-third (28%) of Finns towards cash.
“Cash usage, especially in the context of supply security, is fundamentally tied to social responsibility. Not every Finn has access to bank cards or digital services. Historically, societal upheavals often lead to an increased reliance on cash. The conflict in Ukraine underscored the importance of supply security, prompting Finns to consider multiple payment methods as a prudent approach. People in Finland perceive cash as a safe payment medium, and they recognize the wisdom in maintaining diverse payment options,” said Risto Lepo, Country Manager of Nosto ATMs.
The survey findings revealed that 35% of Finns have either reserved or plan to set aside extra cash due to prevailing economic uncertainties. Among them, 67% did so as a precautionary measure for unexpected situations.
Cash is viewed as a
Source: www.helsinkitimes.fi
