More than two thirds of people in Germany prefer to pay in cash, in Austria it is even more. However, other payment methods are gaining popularity.
According to a survey, cash is by far the most popular means of payment in Germany and Austria. In the current year, the use of notes and coins has increased slightly after three years of steady decline, the consulting firm BearingPoint reported on Tuesday the results of a YouGov survey. According to this, 69 percent of those surveyed in Germany and 77 percent in Austria often pay in cash.
“The fact that the use of cash continues to be persistently high is partly due to the fact that cash is perceived as particularly familiar in uncertain times,” analyzed BearingPoint partner Christian Bruck. According to the representative survey, only 13 percent of people in Germany and Austria can imagine doing without cash altogether in the next two years. Accordingly, 65 percent in Germany and 74 percent in Austria do not expect a move away from cash in the next ten years.
However, other payment methods – for example online via Paypal or with the smartphone via Apple Pay – are gaining in popularity, as other surveys confirm. In addition, contactless payment with a bank card at the supermarket checkout received a boost during the corona pandemic.
BearingPoint on banking
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
