Pay cashlessly: how young Germans drive the change forward

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Erforschen Sie das sich wandelnde Zahlungsverhalten der Deutschen: Eine neue Studie von SumUp und Mastercard zeigt, dass vor allem jüngere Generationen und Verbraucher im Osten und Süden des Landes bargeldlose Zahlungsmethoden bevorzugen. Erfahren Sie, wie Unternehmen auf diese Entwicklungen reagieren und welche Auswirkungen dies auf Umsatzpotentiale hat.
Explore the changing payment behavior of the Germans: A new study by Sumup and Mastercard shows that younger generations and consumers in the east and south of the country prefer cashless payment methods. Learn how companies react to these developments and what effects this has on sales potential. (Symbolbild/MB)

Germany in payment chaos! Cash was yesterday, the digital payment is on the upper aus! In an exciting new Sumup and Mastercard study, it becomes clear where the journey is going: The Germans are ready to kick the good old cash into the bin and prefer card payments!

The study “Pay without limits? Payment behavior in digital change between generations, regions and the future“ clarifies how different age groups and regions in Germany tick. And the trend is clear: especially in the southern and eastern parts of the country, people are enthusiastic about cashless paying!

young people as the driver of change

The survey brought it to light: 41 percent of Germans would always like to pay by card. Enthusiasm is particularly important for younger generations: over half of the 25- to 34-year-olds (47 percent) and even 50 percent of 35 to 44-year-olds express their strongest interest. In contrast, the 55- to 65-year-olds with only 31 percent are sluggish.

It gets even better! Every third respondent (34 percent) is annoyed if the only means of payment is cash. The 18 to 24 year olds are even 40 percent, while only every fourth 55 to 65-year-olds complained about it. A clear sign that a generation is on the move that has clear demands!

regional differences in payment behavior

But not only age plays a role - the geographical location also has a great influence! In the south (46 percent) and in the east (47 percent) of Germany, the respondents are particularly enthusiastic about cashless number methods. In cities, 43 percent support digital payments, while the numbers in the north (41 percent) and west (32 percent) are significantly lower.

The frustration is also remarkable here: 37 percent of East and South Germans are irritated if they cannot pay cashlessly. In comparison, it is less affected in the north (33 percent) and west (31 percent). In the case of towns, there are even 48 percent that are annoyed by cash. If you continue to insist on cash, you run the risk of missing the bubbling sales figures!

The warning is clear: dealers who do not offer digital payment methods miss massive sales opportunities! 45 percent of companies only accept card payment from a certain minimum turnover. If no card payment is offered, every fifth customer (19 percent) does not buy anything.

The study leaders are behind the change: Alexander Rieskampf from Sumup states: "Our German love of cash costs us in the whole country of economic growth." It is high time for companies to react more flexibly to customer requests and to revolutionize the payment!

The reasons for the trend are clear: 79 percent of those surveyed cite the convenience as the main reason for card payments, followed by secure payment protection (40 percent) and hygiene (36 percent). It shows that almost half of the men (47 percent) prefer the card payment, in contrast to only 35 percent of women.

summarized: The study by Appinio, carried out for Sumup and Mastercard, asked 1,000 consumers and 500 company decision -making. The results reflect the urgently needed renovation of the payment landscape in Germany.