Cash: a key to social inclusion in Germany

Cash: a key to social inclusion in Germany

cash: an important support for social inclusion in Germany

In Germany, cash is still an integral part of everyday life. While the trend towards contactless payment methods has increased since Corona pandemic, the current figures of the Deutsche Bundesbank show that cash remains the preferred payment method in 51 percent of all purchases. This not only underlines the economic importance of cash, but also the important social functions it fulfills.

Various organizations, including the Social Association of Germany (SOVD) and the German Association of Blind and Visually Impairment, have drawn attention to the relevance of cash for society. They published a common theme paper that illuminates the role of cash as a form of social participation and protection against digital fraud attempts.

Michaela Engelmeier, board member of the SOVD, emphasizes that cash is indispensable for many people. "It enables independence from technical systems and gives people the freedom to decide for themselves when and how they make their expenses," said Engelmeier. Another plus is the traceability of the expenses: cash can be counted and held in hand, which helps many people to keep an overview of their budget.

Especially in non-commercial areas, such as flea markets or cake sales, cash often remains the preferred payment method. Here it becomes clear how important cash is for the local community and social exchange. Cash donations to homeless people can even be vital, which underlines the necessary financial support in crisis situations.

In addition, Engelmeier demands that politics recognize the importance of cash. "It must be ensured that cash will continue to be preserved as a means of payment in the future," she says. This is not only important for economic stability, but also for social cohesion in society, which is promoted by access to cash.

Overall, the discussion about the payment methods in Germany illustrates the need to appreciate cash as a tool for social inclusion. This topic goes beyond simple financial transactions and touches the foundations of a fair and inclusive society.

For more information and the complete themed paper of the Bundesbank on the subject of cash, interested parties can visit the official website of the Bundesbank.