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News

Cards to exceed cash payments in Germany, Euromonitor says

Thursday 17 September 2020 14:53 CET | News

Market research company Euromonitor International has launched a white paper indicating that card payment value in Germany is projected to surge, while cash will drop by 2025.

 

The white paper The German Consumer: Rapid Evolution Amidst the Crisis, total card payment transaction value in Germany is projected to surge by 28%, while cash transactions will drop by 34% in 2019-2025.

This trend is also supported by the growing trust from consumers over their privacy around card usage. Increasing trust in security measures and assurances from issuers and merchants are strengthening consumers’ confidence. Simultaneously, improved convenience over card payments without a PIN or signature become more popular. German consumers are set to become heavy payment card users by 2040, with an increase in their mobile device usage for payments.



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Keywords: Germany, Euromonitor International, cards, credit cards, cash payments, cash transactions, card payment transactions, Europe
Categories: Payments & Commerce
Companies:
Countries: Germany
This article is part of category

Payments & Commerce

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