site.btaOne in Three Bulgarians Is Fully Familiar with Cashless Payment Methods - Survey

Nearly one third of Bulgarians (32%) are fully familiar with the ways of cashless payment, said Trend co-founder Evelina Slavkova during a Monday forum on digital finance NEXT DIFI 2023, quoting data from a nationally representative survey on attitudes towards the adoption of a cashless payment system in Bulgaria, conducted by her sociological agency.

Mostly young respondents, between 18 and 29 years old, those with higher education and those living in big cities are familiar with and use this payment method. Next are those aged between 30 and 39, and the least frequent users are those aged between 40 and 49.

Whether they use cashless payment or not - 96% of people prefer to have cash when shopping or paying for services, according to the survey.

Some 61% of people use credit and debit cards, with only 4-5% of people over 70 using such methods. This payment method is least common among people with low or no education and those living in rural areas.

About 35% of people who use cashless payment prefer to pay in cash. A further 27% of respondents prefer cashless payment.

Some 13% of respondents make a cashless payment every day. Most of the respondents (40%) use this method several times a week. 12% of people pay once a week and the group of those who do it several times a month is 21%.

71% of those making cashless payments say they have no difficulties and 25% of people rarely experience difficulties.

More than half of respondents (52%) think that the biggest advantage this payment method gives is convenience. For another 27% it is access to all and or most of the funds. 44% of people think there is a risk of theft of funds from using cashless payment, while 39% think the opposite.