Portugal joins new European alliance to defend access to cash

Portugal has become a founding member of Denária Europe, a new Brussels-based civil society platform created to protect Europeans’ right to access and use physical cash as digital payments become increasingly dominant.

The organisation brings together Denária Portugal, Spain’s Plataforma Denaria, France’s Droit au Cash and Sweden’s Kontantupproret. It aims to ensure that cash remains a viable payment option alongside digital methods, arguing that consumer choice, financial inclusion and resilience should remain at the heart of Europe’s payments system.

Pedro da Cunha, representing Denária Portugal, has joined the organisation’s board, while Sweden’s Björn Eriksson has been appointed president/ chairman.

According to a statement released this week, the creation of Denária Europe reflects growing concern over the rapid digitalisation of payments and the continuing reduction in banking infrastructure that provides access to cash.

The platform argues that physical money remains essential for millions of people, particularly older citizens and vulnerable groups, while also providing a reliable means of payment during cyberattacks, power outages or other emergencies that disrupt electronic systems.

Denária Europe cited European Central Bank data showing that the share of in-person payments made in cash across the euro area fell from 72% in 2019 to 52% in 2024. Despite that decline, public support for retaining cash remains strong, with 62% of eurozone citizens saying it is important or very important to preserve the option of paying with notes and coins—up two percentage points since 2022.

The organisation plans to publish reports tracking access to and acceptance of cash across Europe, engage with EU institutions, regulators and central banks, and run public awareness campaigns highlighting the implications of the changing payments landscape.

It stresses that its objective is not to oppose digital innovation but to ensure that consumers retain the freedom to choose how they pay.

“The creation of this confederation gives a European dimension to a concern that is equally national: safeguarding citizens’ freedom of choice and access to cash,” said Pedro da Cunha.

“Cash has unique qualities. It is the most democratic and inclusive means of payment, it always works, serves as a store of value, is immune to cybercrime and helps people manage their day-to-day spending.”

Source material: Lusa

Natasha Donn

Journalist for the Portugal Resident.