One in Three Germans Open to Moving Away from Cash

In Germany, a strong preference for cash remains prevalent, but a noticeable shift towards digital payment methods is emerging. A recent survey indicates that many individuals in Germany are contemplating a transition away from cash transactions.

According to research conducted by the market research firm YouGov for the consulting company BearingPoint, Germans and Austrians exhibit a notable attachment to cash. The survey revealed that in Austria, nearly 73% of the 1,025 online participants reported frequently using cash, while in Germany, this figure stood at 69% among the 2,019 respondents surveyed between November 19 and December 1, 2024.

However, the data suggests a potential change in payment preferences. On average, over a third (38%) of respondents across nine European countries indicated that they anticipate a move away from cash within the next decade. Specifically, in Germany, 33% of participants consider such a transition likely.

Digital payment methods are gaining traction, with respondents from all nine surveyed countries expressing an intention to intensify their use of these technologies in the coming two years. Ireland leads the way, with 40% of participants open to increased card usage and 39% willing to adopt mobile payment methods via smartphones or smartwatches.

In contrast, Nordic countries demonstrate a stronger inclination towards contactless payment methods. In Finland, 89% of respondents reported using contactless payments frequently, followed by Denmark (76%) and Sweden (75%). The reliance on cash is notably lower in these nations, with only 46% of Finnish respondents, 35% of Danes, and 28% of Swedes claiming to use cash regularly.

This trend towards digital payments reflects broader shifts in consumer behavior across Europe, as technology continues to reshape the financial landscape. The increasing acceptance of contactless transactions may influence how businesses and consumers interact financially in the years to come.