Level of cash use in Iceland 2012-2019
Cash money use in Iceland stayed relatively stable in recent years, with consumers using cash for less than ten percent of their retail transactions in 2019. This according to estimations based on the available data regarding cash withdrawals and payment transactions. No data exists on the actual use of cash money, outside of survey diaries. Such a diary, covering consumers' use of cash money in shops, was held in Europe only once, in 2017. As not all payment data is readily available, like the use of OTC or over-the-counter cash withdrawals, note this can still mean that the cash share numbers provided here are not necessarily accurate.
