According to a survey, Austrians and Germans are among the few Europeans who still have a great love for cash. In all other seven European countries surveyed by the market research institute YouGov for the consulting firm BearingPoint, contactless payment by card is the preferred method. 73% of Austrians and 69% of Germans reported using cash most frequently in the online survey.
A third of the participants (38%) from all countries believe that moving away from cash in the next ten years is likely. However, in Austria, only 19% of the 1,025 respondents think they could live without cash by then. In Germany, 33% of the 2,019 respondents share this view.
Trend Toward Digital Payment Methods
Across all nine countries, where a total of 10,222 adults were surveyed, participants could imagine using digital payment methods more frequently in the next two years. Ireland leads, with 40% of respondents considering more frequent use of card payments and 39% expecting more mobile payments via smartphone or smartwatch.
Contactless Card Payments Dominating in Nordic Countries
Contactless payments are particularly popular in Finland (89%), Denmark (76%), and Sweden (75%), where they are far ahead of other payment methods.
In these Nordic countries, people use cash less frequently. In Finland, 46% of respondents said they often use cash, in Denmark, it was 35%, and in Sweden, it was 28%. Survey participants could mention up to five different payment methods when answering the question.
