Germany is not ready for a cashless society. A look at the data from the PYMNTS.com Global Cash Index™ in conjunction with Cardtronics shows that the majority of Germans consider cash transactions safer than other types of payment, and this sentiment is stronger in Germany than other European countries.
But digital wallets are changing the payments landscape. The total cash share has been declining at a higher rate than GDP growth in Germany for the last decade, and total cash usage has dropped by an annual rate of less than 1 percent. Although cash use is popular in Germany, a steeper decline in cash use could be of concern if there is slow growth in spending.
Here are the data
€648.4 billion | The amount of cash Germans used in 2015
€278.6 billion | The amount Germans spent using cards in 2015
$250 | The average withdrawal amount from an ATM in Germany
$123 | The amount of cash the average German has on hand
72% | The number of Germans who consider cash a safer form of payment