Cash no longer king for most Germans abroad or at home – Survey

Germans’ long-standing love affair with cash is fading — even when they travel abroad.

A new survey released on Friday by comparison site Verivox found that only about a third of people now prefer to pay with banknotes and coins, both at home and outside the country.

The shift has been sharp: in June 2023, a majority (53%) said they would pay for a €20 purchase abroad within the eurozone in cash. That figure has now dropped to just 34% of the 1,031 respondents.

“Germans have traditionally been considered cash lovers. But the majority now prefer card-based payments both domestically and abroad,” said Oliver Maier, managing director at Verivox Finanzvergleich.

At home, 51% of respondents favour cards at the checkout, whether debit or credit.

Card use is even more dominant when travelling: nearly 55% prefer card payments within the eurozone, rising to more than 56% outside it.

On behalf of Verivox, the polling institute Innofact surveyed 1,031 people aged 18 to 79 in Germany in August of this year.

Source: dpa

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