Even in the supermarket, you can’t pay with banknotes. At the same time, many European neighbors like the Netherlands almost entirely function on cash-free payments. Indeed, cash payments are prevalent among pensioners, and Germany is an aging country, with a large number of elderly.ĭespite Germany being Europe’s leading economy and famous for technological know-how, the country isn’t in a rush to say bye to the cash. A third of all participants even stated that they pay exclusively in cash. In the end, cash gives the feeling of keeping track of the money you spend, and Germans don’t like spending more than they have planned.įurthermore, a typical German carries the equivalent of about $123 in cash in their wallet, nearly twice as much as Australians, Americans, the French, or the Dutch typically have.īesides, a study by the Bundesbank shows that 53% of private purchases in Germany are paid in cash. The average German citizen prefers to pay either cash or a Girocard, a German version of a debit card. Germany’s most popular payment methods are cash, debit card, or Girocard (an interbank card). They literally cannot imagine a world without cash. Firstly, Germans love and trust cash above everything. Read this article to understand more about credit card usage in Germany and why it’s so minor. In the end, the reason why the German population is so credit cards averse have very deep underlying principles, which are also connected to the culture.

That’s why many German shops set a minimum amount for credit card purchases. Credit card providers get at least 2% or 3% from each transaction, taking a part of a firm’s profit margins away. Broad spectrum of usage – 38 out of 100įurthermore, there are still businesses in Germany that don’t accept credit cards because they must pay fees.Security for financial losses – 21 out of 100.For purchases, they have a special debit card that works only in Europe and only in physical stores – EC card. People in Germany prefer cash and debit card payments over anything else. The proportion of Germans who use credit cards is incredibly small compared to North America, so you might be wondering why? Abroad, especially in the US, it’s common to pay for purchases with a credit card, but the situation looks very different in Germany.

Dkb visa debit credit