According to a study by management consultancy Strategy &, cash is still more popular with German consumers than with consumers in the rest of Europe. According to the comparison of 15 countries published today in Munich, cash is the most popular form of payment for 54 percent of consumers in Germany.
On average across the 15 countries, only 37 percent said so. In Austria, 47 percent prefer cash, and in Switzerland just over a third (35 percent). At the lower end of the scale is Denmark, where only 17 percent prefer cash.
On average, a good fifth (21 percent) of 15 countries prefer mobile payment, but in Germany less than one in ten (nine percent) prefer. Only 27 percent in Germany can imagine wanting to open a bank account with fintech startups or payment services for tech groups like Apple and Google. In Austria it is 39 percent, and in Switzerland it is 48 percent.
In September and October, the consultants surveyed a total of 5,750 people in Germany, Great Britain, France, Italy, Spain, Poland, the Netherlands, Belgium, Sweden, Austria, Switzerland, Denmark, Finland, Ireland and Turkey.
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