Retailers without card terminals are being avoided
The market research firm GfK, commissioned by Mastercard, conducted a study on payment trends in Germany. According to the study, 89% of the approximately 1,000 respondents believe that card payments should be possible in every retail store. The acceptance of cards is becoming an increasingly important decision criterion. The survey was conducted in mid-August.
The results indicate that 57% prefer digital payments with cards, smartphones, or smartwatches. Additionally, 39% of respondents have either left a store or not entered it at all because only cash was accepted. This figure has increased from 28% two years ago.
Debit cards dominate
Every second respondent in Germany prefers to pay with a card. Two-thirds use a debit card, while 19% prefer a credit card. Contactless payment is the most important card feature for 55%, surpassing the ability to withdraw cash worldwide (54%). The option to pay online with a card is becoming increasingly relevant (41%).
Contactless payment is considered the norm by 63% of respondents, with many younger people between 18 and 39 using contactless payment at least once a day (34%). Overall, 80% pay contactlessly at least once a week. "Our lives are becoming growingly digital. Consumers expect payment methods to work seamlessly today," says Peter Robejsek, Managing Director at Mastercard Germany.
Clean payment
When it comes to contactless payments, 75% choose cards, 23% use smartphones, and 2% pay with wearables like payment rings. Respondents see several advantages of contactless payment: it is fast (51%) and easy (47%). Furthermore, a third of Germans consider it a hygienic alternative.
Among those aged 18 to 29, nearly half use a mobile phone or smartwatch for payments. 10% of them would always settle their bill through mobile payment if possible.
Electronic receipt
The study also examined the banking services that consumers desire. 68% of respondents, for example, would like options for managing subscriptions through their online banking. Additionally, 65% are interested in greater control over the usage of their cards – geographically, online, or in stores. About 75% of respondents would like an electronically accessible receipt for their card transactions in online banking.
67% are interested in customizing the notifications they receive after transactions on the online banking platform. Regarding the purchase of age-restricted products, 71% of respondents consider authentication via a payment card to be a good approach.
