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Germany: cash accounts for 74% of transactions

Categories : Uncategorized
March 5, 2018
Published in : Central Bank, Demand, Europe, Germany, Payment
According to the Deutsche Bundesbank survey on "Payment behaviour in Germany in 2017", cash is by far the most widely used payment instrument and accounts for 74% of transactions in volume and 48 % in value.
Guillaume Lepecq

According to the Deutsche Bundesbank survey on “Payment behaviour in Germany in 2017“, cash is by far the most widely used payment instrument and accounts for 74% of transactions in volume and 48 % in value.

Here are some of the key take-aways of the report:

  • Cash accounted for 74% of transaction volumes in 2017, down 5 percentage points from 2014.
  • In particular, 96% of payments under € 5 continue to be settled in cash as well as most of the expenditure up to € 50. Also, payments made at retail outlets or for certain types of transactions, eg. person-to-person, eating and drinking outside the home (including delivery services) as well as vending machines are predominantly paid in cash.
  • In value, 48% of transactions were settled in cash, a decrease of six percentage points since to 2014.
  • The vast majority of respondents (88%) would like to continue to pay cash in the future and object to its withdrawal or restrictions to its usage. As in previous studies on payment behaviour, there is a high level of overall satisfaction with traditional payment methods and a slow – but steady – change in payment behaviour.
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