TRENDS AND DETERMINANTS OF CASH USAGE IN NON-EUROZONE EU MEMBER STATES 1

Technological progress and digital innovations changes consumer payment habits worldwide. Although cash payments are still predominant payment method in Europeancountries, a decreasing trend is observed. Simplicity and accessibility of non-cash ways of payments, along with decreasing availability and restrictions on the use of cash,threaten to push cash from circulation. On the other hand, European Central Bank expressed the importance of cash as a store of value and reliable payment instrument that should be available to all eurozone citizens. The aim of this paperis to analyse the trends and determinants of cash usage in 8 non-euro zone European union countries over the 2013 – 2021 period, based on set of selected indicators. The result show heterogeneitywithin the group, but with a common downward trend, and the significant influence of technological and sociocultural indicators on cash usage.