Mobile Payment Adoption Rises but Faces Skepticism in Germany

Despite growing popularity, mobile payment methods remain less common than traditional options due to security concerns and perceived lack of benefits.

• A recent survey shows 32% of Germans now use smartphones or smartwatches for payments, up from 23% last year.
• Traditional payment methods like cash and credit cards are still more prevalent at checkout counters.
• Two-thirds of consumers believe stores should offer more than just cash payment options.
• Security concerns and perceived lack of advantages deter many from adopting mobile payment technologies.
• Financial institutions are promoting mobile payments as a cost-effective alternative to plastic cards.

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