Germans still relatively often pay in cash, while Italians are the least likely in Europe to use card payments. Norwegians are first in the use of card payments.

However, overall the payment trend in Germany is also moving toward payments with plastic cards and mobile phones, reports Fenix-magazin citing data from the consulting firm Boston Consultig Group (BCG) published in the new edition of its annual “Global Payments Report”.

According to these data, residents of Germany in 2023 made electronic payments an average of 304 times per capita,

First place in electronic payment transactions last year was taken by Norway with an average of 815 transactions. In second place is Luxembourg with 753 such payments, third is Ireland with 705, and fourth is Denmark with 675 electronic payment transactions.

Less than Germans, Austrians (300 transactions), Spaniards (288), and Malta (243) use electronic payment transactions.

Italians still prefer to pay in cash. This is also shown by the fact that last year consumers in Italy had only 194 electronic payment transactions.

The BCG research does not provide data for such payments in Croatia.

Financial experts from Boston Consulting Group assume that the share of electronic and digital payment methods worldwide will continue to grow over the next few years, but with a decrease in the profitability of card companies, payment service providers, payment app providers, and even banks.

Source: fenix-magazin.de