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Germany lagging behind in cashless payments

The trend to stop using cash in other parts of Europe is growing

  • January 03, 2018 10:12
  • Author Stanimira Lukanova
Medium money 2943692 1280
Source: Pixabay

In many European countries using cash is gradually going out of trend, however, Germany seems to lag behind in this aspect. Still, Deutsche Bank CEO John Cryan believes that Germans will soon stop using cash too, as it is becoming very expensive. Statistics show that only 1 in 20 payments are through credit cards and that every citizen of Germany keeps about 2000 euros at home.

Transitioning to cashless payments is going very slowly in Germany, however, the country is followed by two other EU countries - Spain and Italy.

 

Source: The Local/ Germany 



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