Driving the evolution of digital payment in Germany by Visa Navigate

When European merchants looked to Germany, they discovered the strong importance given by Germans to cash payment. In 2017, according to the Bundesbank, this form of payment accounted for 74.3% of payments with 47.6% of the amounts (source).

But since then, the pandemic and the search for social distancing have disrupted behaviors. In 2021, according to the Bundesbank report, Germany decreased its share of cash payments to 57.8% of transactions for 29.9% of the amounts, mainly in favor of the debit card which represents 22.6% against 18.9% in 2017 and credit cards which jumped from 1.6% in 2017 to 6.2% in 2021.

2022 should confirm this trend. 

It is therefore interesting to understand, beyond the figures and the acceleration due to the pandemic, the drivers behind this change in payment behavior. This is what this interesting article from Visa Navigate offers to its reader.

The NEPTING team