Austria and Germany: Cash remains the number one means of payment!

Austria and Germany: Cash remains the number one means of payment!

Austrians and Germans continue to hold on to cash despite digital change. According to a recent survey by the consulting firm BearingPoint, which was carried out in nine European countries, 73 percent of Austrians and 69 percent of Germans say that they pay in cash particularly often. This is in stark contrast to results in other countries, where contactless card payments are the most popular payment method. In Austria only 19 percent can imagine doing without cash in the next ten years, while in Germany the figure is at least 33 percent krone.at reported.

Cash remains king in Austria and Germany

The popularity of cash in these two countries is also reflected in the general payment mentality. Another part of the study shows that more than a third of those surveyed in the other seven European countries believe that a move away from cash is likely in the coming years. In comparison, the urge to pay in cash is strong in Austria and Germany. Interestingly, the survey shows that only in Finland (89 percent), Denmark (76 percent) and Sweden (75 percent) is contactless payment the preferred method, while in these Nordic countries the use of cash is significantly lower. In Finland, only 46 percent of respondents say they use cash frequently, reports exxpress.at.

Digital currencies on the rise

At the same time, the European Central Bank (ECB) under Christine Lagarde is planning to introduce the digital euro more quickly. Originally planned for 2027, it should now become a reality in October 2025. However, this measure has been criticized by many as a potential infringement on citizens' financial freedoms, raising fears of a hidden cash ban. The debate over digital currencies is becoming increasingly heated as people in Austria and Germany stick to their old habits.