Cash use on the decline in Germany
Card and mobile payments gain ground as cash’s share of payments falls to 51% in 2023
The share of payments in Germany settled in cash sank from 58% in 2021 to 51% in 2023, a report from the Deutsche Bundesbank shows.
Banknotes and coins lost ground to debit and credit cards, as they were used in 27% of payments, growing in popularity by 5% compared with 2021. Mobile payments also gained popularity, trebling to 6%.
“We can see that people have only partially reverted to their old payment habits,” Burkhard Balz, board member of the Bundesbank, said.
In terms of turnover, debit card
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Payments
Covid led to shift in cross-border payment flows – Brazilian study
Pandemic resulted in changes across sectors, instruments and types of economy
Yuan will not rival dollar for foreseeable future – Fed study
Figures show aggregate usage of currency lags behind that of euro, yen and pound
Digital payments ‘indispensable’ in driving development – Tombini
BIS Americas chief says central banks should continue promoting FPS and CBDCs
South Korea and Indonesia set up currency transactions framework
Move is latest regional effort to bolster use of local currencies for settling trades
Fed study finds there are no truly offline payment systems
Hybrid solutions mitigate some risks, say researchers
SNB launches instant payments system
Swiss central bank says system will enable “final settlement” within seconds, 24/7
Bank of Israel reports continued rise in digital payments
Survey shows increase pre-dates emergency measures brought in during Gaza war
Customer verifications have slashed fraud across Europe – ECB, EBA study
Problem greater in non-EEA countries with looser security requirements, says research