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Germany Mandates Digital Payment Options as Cashless Preference Grows

With 61.4% of Germans favoring cashless transactions, new policies aim to modernize payments while preserving cash accessibility.

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Ein Mann zieht Geldscheine aus dem Ausgabefach eines Geldautomaten
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Overview

  • A recent Postbank/YouGov study reveals that 61.4% of Germans now prefer cashless payments, with contactless options like card or smartphone taps particularly popular.
  • Despite the shift, 35.6% of Germans, especially those earning under €2,500 per month, still rely on cash for budgeting and financial control.
  • The German government has finalized plans to require businesses to offer digital payment options, addressing changing consumer preferences and combating tax fraud.
  • Concerns about cash access persist as the Bundesbank warns of declining ATM and branch availability, prompting alternative solutions like retail cashback services.
  • Euro banknotes remain highly secure, with counterfeiting rates under 0.01%, and commemorative €2 coins continue to attract significant interest from collectors.