Survey by the German Payment Systems Initiative: Trend towards cashless payments, especially among younger people
In Germany, there is a trend towards paying without notes and coins, especially among younger people. More than half (53 percent) of 16 to 59 year olds stated in an Allensbach survey that they prefer to pull out a card and / or smartphone at the cash register. In the case of people over 60, only 24 percent use such cashless payment methods, such as the one published on November 24, 2021 Survey on behalf of the German Payment Systems Initiative emerges.
However, the representative survey of 1,074 people aged 16 and over reveals a change among the elderly as well: In 2018, twelve percent of people over 60 said they preferred to pay by card, but today there are already twice as many.
Contactless payment, which retailers advertised for hygiene reasons during the pandemic, is enjoying increasing popularity in all age groups. The purchase is paid for in passing. This is possible with girocards and credit cards that are equipped with a corresponding chip. Money can also be transferred contactlessly using a smartphone or smartwatch with services such as Apple Pay and Google Pay or banking apps.
While the proportion of those who pay contactless with their Girocard was seven percent in 2017, it is now 62 percent. A further 21 percent of Girocard holders say they can imagine using this function in the future.
When it comes to new digital technologies, 16 to 29 year olds in particular are willing to innovate. Payment by smartphone is particularly popular with them. Almost one in six (15 percent) in this age group says that they prefer to pay at the checkout with their smartphone.
“Payment behavior at the checkout is still split in two between the generations,” concludes the German Payment Systems Initiative based on the survey. “But the transition to the card can already be seen among the over 60s.”
The study by the Allensbach Institute for Demoscopy on behalf of the German Payment Systems Initiative is based, according to the information, on 1,074 interviews with a representative cross-section of the population aged 16 and over. The interviews were conducted orally and in person between August 2021. The following questions were asked, among other things: “If you have to pay something at the cash register, how do you basically pay – preferably in cash, with a card or by smartphone?”; “Have you ever made contactless payments with your Girocard? If not, – can you imagine paying with it in the future?”
The German Payment Systems Initiative, based in Berlin, sees itself as a network for companies and institutions that accept the cashless payment methods of the German banking industry or provide the necessary infrastructure. (dpa / rw)