Austria and Germany: Cash remains the number one payment method!

Austria and Germany: Cash remains the number one payment method!

Austrians and Germans continue to record cash despite digital change. According to a current survey by the consulting company BearingPoint, which was carried out in nine European countries, 73 percent of Austrians and 69 percent of Germans state that they pay in cash particularly frequently. This is clear in contrast to the results in other countries, where contactless payment with cards is the most popular payment method. In Austria, only 19 percent can be imagined to do without cash in the next ten years, while in Germany there are at least 33 percent, as krone.at reports.

cash remains king in Austria and Germany

The popularity of cash in these two countries is also reflected in general payment mentality. In a further part of the investigation it becomes clear that more than a third of the respondents in the other seven European countries consider a departure from cash in the coming years to be likely. In comparison, the urge to pay cash is strongly pronounced in Austria and Germany. Interestingly, the survey shows that only in Finland (89 percent), Denmark (76 percent) and Sweden (75 percent) contactless payment is the preferred method, while in these Nordic countries the use of cash is significantly lower. In Finland, only 46 percent of the respondents say that they often use cash, reports Exxpress.at