Cash afterwards boomt: Is our currency in danger?

Cash afterwards boomt: Is our currency in danger?

Deutschland - The use of cash is in an exciting relationship to the growing digitization of the means of payment. Despite the increase in digital payment methods, the amount of cash in the euro area continues to show a positive development rate. In March 2023, around 1.564 trillion euros were in circulation in cash, what Oe24 30 billion euros more than in spring 2022. This development throws up the so-called "banknote paradox" because the use of cash has decreased in recent years. According to experts, it is estimated that cash is obtained worth three -digit billion dollars, especially in Germany.

, taking into account uncertainty factors such as crises and corona pandemic, in Germany, about 42% of banknotes as "value storage", which is almost two and a half times as high as in 2013. It is expected that the Bundesbank will be stored in German private households by the end of 2024 Population. Cash is still an indispensable means of payment, especially in times of crisis, if electronic systems may fail. The management consultant Johannes Gärtner points out that the increase in cash circulation in crisis times is a frequently observed phenomenon.

cash behavior in the digital age

A study by the Deutsche Bundesbank to use payment means shows that in Germany 50% of the payment processes in everyday life are still handled with cash. This study from 2023 states that unacceptable payment methods by 7% increased to 49%. In particular, the debit card has replaced cash as the most popular means of payment measured in terms of sales with 32%, while cash is only 26% of sales. It also becomes clear that the new preference for electronic payments is also reflected in the use of mobile payment methods that has tripled since 2021 and is now 6%.

The knowledge of using cash illustrates that 81% of all transactions at physical payment locations would be possible without cash according to the survey results. Nevertheless, 15% of the respondents find access to cash as difficult, whereby this increase affects both urban and rural regions. Together with the fact that cash offers advantages such as the protection of privacy, more and more relevant to society.

FAZIT: A shared world of means of payment

summarized it is shown that despite the growing preference for digital payment methods, cash continues to retain its importance. Ralf Wintergerst from Giesecke+Devrient attributes the strong after -school care of cash to a feeling of uncertainty among the population. The discussion about the relevance of this traditional payment method is more current than ever and illustrates that cash has space even in a digital age. The Bundesbank has therefore decided to actively support the cash and the associated infrastructure in order to ensure a balanced future of payment. The endless struggle between cash and digital payment methods will continue to shape society.