Rise of Contactless Payments: Changing Consumer Habits in Payment Methods

Recent data from the Postbank Digital Study 2024 reveals a significant shift towards contactless payments, with two-thirds of consumers now utilizing this method, up from 13% in 2015 to 60% in 2022. The number of those resisting contactless payments has decreased substantially.

While cash remains prevalent, with half of consumers still using it, the appeal of mobile payment options such as Apple Pay, Google Pay, and bank apps is on the rise. Despite this, opinions on abolishing cash are divided, with 32% in support and 44% against.

The convenience of using smartphones for payments is a driving factor for many, eliminating the need to carry physical cards.