Payment Methods: Austrians and Germans Stand Out in Survey

With their great love for cash, Austrians and Germans are quite alone according to a survey. In all other seven European countries where the market research institute YouGov conducted a survey for the consulting company BearingPoint, contactless payment by card is the favorite. 73 percent of Austrians and 69 percent of Germans stated in the online survey that they use cash particularly frequently.

Turning Their Backs on Cash?

More than a third (38 percent) of respondents on average across countries consider it likely that they will move away from cash in the next ten years. In Austria, however, only 19 percent of the 1,025 respondents can imagine doing without cash by then. In Germany, it is at least 33 percent of the 2,019 respondents.

In all nine countries where data was collected by surveying a total of 10,222 adults, participants in the survey can imagine using digital payment methods more intensively in the next two years. The leader is Ireland, where 40 percent of respondents can imagine a stronger use of card payments and 39 percent a stronger use of mobile payments via smartphone or smartwatch.

Contactless Card Payment Favorite

Contactless payment, almost in passing, is used particularly frequently in Finland (89 percent), Denmark (76 percent), and Sweden (75 percent) according to the respondents in the respective countries, and there it is also far ahead of other payment methods.

People in these Nordic countries correspondingly use cash and coins less frequently: In Finland, 46 percent of respondents say they use cash particularly often, in Denmark it is 35 percent, and in Sweden 28 percent. When answering the question, survey participants could name up to five payment methods.

(APA/Red)

This article has been automatically translated, read the original article here.