More cashless payments in germany and europe

More cashless payments in germany and europe

According to the ECB, 134 billion payments were made in the european union last year without the use of shines and coins – 7.9 percent more than a year earlier. More than half (52 percent) were card payments.

In germany, cashless payments increased by around 3 percent to more than 21 billion. The bundesbank’s conclusion: "the results of the payment traffic statistics for 2017 show that payment traffic is becoming more digital and more european."



According to the bundesbank, the increase was particularly high for card payments. Here there was an increase of almost eleven percent. In 2017, an average of 62 euros was paid by card a total of just under 4.5 billion times.

However, the most popular cashless payment method in germany is still the direct debit: more than 10 billion direct debits for an average of 372 euros were made last year, which is about 121 million more than the previous year. For its annual statistics, the bundesbank draws on data from all banks and payment service providers based in germany.

However, according to recent surveys by the bundesbank, bills and coins are still very popular with consumers in germany, despite all the technical innovations: three out of four transactions at the checkout are paid for with cash.

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