Payment methods: Psychological impact of cash and legality of card surcharges

A large-scale study published in the Journal of Consumer Research has reaffirmed that cash payments cause more psychological ‘pain of paying’ compared to card payments. The research, involving over 32,000 participants across 13 replication studies, found that this effect remains valid even with modern digital wallets and virtual currencies. The study noted that the method of payment significantly influences the amount spent and the willingness to pay.

In a related economic context, data from the European Central Bank indicates that cash acceptance among businesses in the Eurozone has seen a slight increase, rising to 92% in 2026 from 90% in 2024.

Meanwhile, some businesses are applying extra fees for card transactions, often labeled as ‘card differences’ or ‘service fees.’ These surcharges can range from 5% to as high as 12% for high-value transactions. However, under Article 17 of the Law on Bank Cards and Credit Cards, it is illegal for merchants to demand additional payments from cardholders under the guise of commissions or similar names. Violations can lead to the termination of merchant agreements.