According to a survey, cash is by far the most popular means of payment in Germany and Austria. In the current year, the use of notes and coins has increased slightly after three years of steady decline, the consulting firm BearingPoint reported on Tuesday the results of a YouGov survey. According to this, 69 percent of those surveyed in Germany and 77 percent in Austria often pay in cash.

"The fact that the use of cash continues to be persistently high is partly due to the fact that cash is perceived as particularly familiar in uncertain times," analyzed BearingPoint partner Christian Bruck. According to the representative survey, only 13 percent of people in Germany and Austria can imagine doing without cash altogether in the next two years. Accordingly, 65 percent in Germany and 74 percent in Austria do not expect a move away from cash in the next ten years.

However, other payment methods - for example online via Paypal or with the smartphone via Apple Pay - are gaining in popularity, as other surveys confirm. In addition, contactless payment with a bank card at the supermarket checkout received a boost during the corona pandemic.

BearingPoint on banking