The Deutsche Bundesbank found in its study “Payment Behavior in Germany 2023” that cash was used in only half of all transactions. Card payments accounted for just over 40 percent, while six percent were made via smartphone or smartwatch. This marks the first time cashless payments have taken the lead.
The study is considered the most recent survey on Germans’ payment habits. Author Ursula Mayer of the Bundesbank evaluated thousands of transactions for it. In brick-and-mortar retail, cash remains the most common single method, but the total of all cashless payments now exceeds cash payments for the first time.
More and more stores, especially in tourist-heavy city centers, are switching to card-only payments. This is legally permissible as long as the restriction is clearly posted at the entrance. The Girocard, included with most checking accounts in Germany, remains the most widespread card payment method. For amounts under 50 euros, a PIN is usually not required.
Source: Tagesschau
