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
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