Card payments outstrip cash for first time in Germany

www.thelocal.de

Even among the most skeptical, card payments are increasing. For the first time ever, German card payments exceeded cash payments. Grounded in a history of privacy concerns and abhorrence for debt, German’s skepticism for card payments has meant cash has long been king to the point where even in a country as developed as Germany it was tough to pay with cards. A gradual increase in card payments – along with growing trust in the medium – has seen a major uplift in card based payments, particularly for big ticket items. Over three quarters of all transactions were cash transactions, but volumes had cards eke out a win over cash.

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