German Payment Habits Shifting: Contactless Payments Surge in Popularity
A new study reveals a significant increase in contactless payment adoption and the growing use of digital methods in Germany, especially among younger demographics.
Berlin – Germans' payment habits are undergoing a significant transformation, according to a recent study. The "Wie in Deutschland bezahlt wird" (How Payments are Made in Germany) research, conducted by Initiative Deutsche Zahlungssysteme e.V., highlights the dramatic rise of contactless payments and the increasing adoption of digital solutions like paying via smartphones or smartwatches.
Mobile payments, utilizing a digitally stored girocard, have gained substantial traction among the 16-29 age group, with nearly half (53%) having used the method. Across the entire population, this figure stands at 23%. Mobile payment remains a hurdle for those aged 60 and over, with only 4% having tried it.
Contactless payment has surged in popularity across all age groups. Currently, 80% of Germans use their girocard for contactless transactions, a significant jump from just 20% six years ago. Even among the 60+ generation, 68% now use this payment method, indicating a clear shift in consumer behavior.
The study also addresses the ongoing debate about mandatory card acceptance. While card payments are standard in most establishments, exceptions persist, causing frustration. 31% of citizens report annoyance when only cash is accepted in stores or restaurants, leading 22% to avoid such places. Concurrently, half of all respondents support legally obligating businesses to accept card payments. Support is particularly high among the younger demographic (16-29 years), at 62%.
Approximately half (54%) of all respondents believe that transitioning to completely cashless payments would be easy. For young people (only 4%), this is already a daily reality, while 42%, primarily older individuals, perceive it as a challenge.