Cashless transactions are commonly used by most people, whether they're at home or on the move. - In various locations, the majority opt for non-cash payments instead of using physical currency
German Payment Trends: A Shift Towards Card Payments
A recent survey by Verivox, a leading comparison portal based in Frankfurt am Main, Germany, has revealed a significant shift in the payment habits of Germans. The survey, which focused on preferences for payment methods, both at home and abroad, found that card payments are becoming increasingly popular, especially for international trips.
The survey, conducted among 1,031 respondents, revealed that only about a third (34%) of Germans use cash for payments, both at home and abroad, marking a decrease from previous years. This is a stark contrast to the past, where cash was traditionally the preferred method of payment among Germans.
For purchases of 20 euros at the checkout on trips within the Eurozone, card payments are more popular, with 55% of Germans preferring them. This trend continues for trips outside the Eurozone, with over 56% of Germans opting for card payments.
Debit cards from Visa or Mastercard are used by 12% of Germans for card-based payments, while a real credit card is the preferred payment method for 9%. The Girocard (EC card) is used by 30% of Germans for such transactions.
The survey results show a clear shift towards card-based payment methods among Germans. This trend is likely driven by convenience and security considerations, as card payments offer a more streamlined and secure method of payment, especially for international travel.
In Germany, the majority (51%) of consumers prefer card-based payment methods for purchases at the checkout. This is a significant change from a previous Verivox survey in summer 2023, where a majority (53 percent) of respondents preferred to pay for a purchase of 20 euros at the checkout on trips within the Eurozone using cash.
The survey did not specify the exact timeframe in which it was conducted, but it is clear that the trend towards card payments is a growing one. As technology continues to evolve and security concerns around cash transactions increase, it is likely that this trend will continue in the future.
While specific data regarding card payments for international trips among Germans in Frankfurt am Main is not available from the Verivox surveys provided, it is clear that the trend towards card payments is a nationwide one. As a leading comparison portal in Germany, Verivox is well-positioned to continue monitoring and reporting on these trends in the future.
If you are interested in the latest data or insights based on recent trends up to 2024, feel free to ask, although it should be noted that such information would be based on inferred knowledge rather than specific survey results.
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