Germany: Cash is still king

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tabbs
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Germany: Cash is still king

Post by tabbs » Tue Jul 07, 2009 8:04 pm

Cash is the most commonly used means of payment in Germany. And according to a new study presented by the Bundesbank today, that will not change dramatically any time soon. Here is an English media release:
http://www.bundesbank.de/download/press ... ten.en.php" onclick="window.open(this.href);return false;

The study is based on the questionnaires and "payments diaries" of more than 2,000 persons. Measured by the value of the transactions,

* cash accounts for a share of 57.9%,
* giro cards (the former EC cards) 25.5%,
* and credit cards for 3.6% of all purchases.

Also interesting: the average amount of cash carried is €118 (with €6.70 being coins). And while people may prefer cash in many situations, most do have some "plastic" means of payment: 91 percent have a giro card, and 27 percent have a credit card. More information (study, abstract, background info) in German is available at the Bundesbank's website.

Christian

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