2024-08-01 09:00:08
Business
Finance
Technology

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.

DER SPIEGEL
1. August 2024 um 05:56

Cash less important: Two-thirds of consumers pay contactless - DER SPIEGEL

Finance
Technology
Economy
According to the Postbank Digital Study 2024, two-thirds of consumers already use contactless payment methods. Their share increased from 13% (2015) to 60% (2022), while the group of contactless payment refusers decreased from 66% (2015) to 26% (2022). However, around half of all consumers still pay in cash. Only 32% support the abolition of cash, 44% reject this idea. In mobile payment methods, Apple Pay (28%), Google Pay (25%) and the bank's app (16%) dominate, followed by Payback Pay (14%),..
heise online
1. August 2024 um 05:10

The Use of Cash is Crumbling: German Consumers Predominantly Pay Contactless | heise online

Finance
Technology
Economy
Digital payment methods are replacing cash in Germany. In 2022, 60% used contactless payment, while 26% continued to reject it. The representative "Postbank Digital Study 2024" shows the trend.
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