People in Germany paid half of all transactions with banknotes and coins in 2023. At the same time, the spread of cashless payment methods has continued to increase. This is the result of the Deutsche Bundesbank's current study on payment behaviour in Germany in 2023.
Compared to the 2021 survey, the share of cash payments fell from 58 percent to 51 percent. This decline is no longer as pronounced as during the Corona pandemic. Nevertheless, the share of cash payments is falling faster than in previous years, said Bundesbank Executive Board member Burkhard Balz.
According to the latest study, the debit card was used in 27 percent of payment transactions. It was the second most used means of payment and its use has seen a significant increase of five percentage points compared to 2021.
Mobile payment has also grown strongly, albeit from a low level. The share of mobile payment in transactions has tripled to six percent. The Bundesbank notes that citizens have only partially returned to their previous payment habits.
In terms of turnover, the debit card was clearly in first place with a share of 32 percent of total spending, followed by cash in second place with 26 percent, ahead of bank transfers and Internet payment methods such as PayPal, Klarna or Giropay.
Consumers prefer to pay larger amounts with a debit card. But smaller amounts were now also paid more often with non-cash means of payment, explained Bundesbank Executive Board member Balz
Full article Deutsche Bundesbank: Cash is and will remain a core product (sprit-plus.de).
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