“Only cash payment here, Or in other words. “Card payment is not possible.” “I’m really tired of it,” the entrepreneur and Lion’s Den judge expresses his displeasure with Germany’s obsession with cash on X (formerly Twitter).
“What has long been standard among our European neighbors is still a matter of the future here,” criticizes the 65-year-old man. And more. “We are an international destination for Deep Tech. But cashless payment? For him, it is not only annoying, but also embarrassing.
Only in a few countries are cashless payments even less common
In this context, Maschmeyer refers Global Payments Report 2023 The Boston Consulting Group (BCG), which backs up Germans’ love of cash, puts the numbers into perspective. Accordingly, in all of Europe, only countries like Austria, Italy and Malta is even less likely to be paid electronically.
They are European champions when it comes to taking out a smartphone, bank or credit card norwegian with an average of 708 transactions per year, followed by Denmark (610) and Luxembourg (598). The average German makes 284 non-cash transactions a year.
“Cash is still an important means of payment for Germans, so there is still a lot of room for improvement in electronic transactions,” said BCG payments expert and co-author of the study Markus Ampenberger.
A concern for EM fans from overseas
For his column “Business Week” Markus Werner reports that the foreign visitors of the European Championship are shocked. “Without cash, they won’t get very far in German restaurants and pubs,” he concluded.
Werner doesn’t just see this as backwardness, he even feels the “fraud” and hints at bankrupt funds in the food industry. For him, the card payment option is also a quality criterion. He demands. “In Germany, in addition to the right to pay in cash, we also need the right to pay digitally.”
“Löwe Maschmeier” takes part in it Twitter also EM guests in sight. “Germany must finally enter the 21st century,” he calls. Anyone wishing to host international guests must also respect their usual payment habits. “Especially when you consider that there aren’t ATMs on every corner,” says Masmeyer.
He also thinks: “Everyone should pay how they want, but you have to choose whether it’s digital, card or cash. But card payments should be normal everywhere in Germany, not a benefit.”
“No cash” instead of “No card payment”.
In foreign cities like London, however, you increasingly see signs that say: “No Cash” or “Card Only”. Cash is getting low there. One The BBC programme According to the ATM, death is located English: Capital is in full swing.
The manager of a cashless Indian restaurant in East London told the broadcaster that most people in the area still want to pay by card. “Paying by card or phone is easy, you pay and go,” he said.