Cashless payment instruments in Germany were already being used more frequently in 2019, i.e. prior to the outbreak of the COVID-19 pandemic. This was evidenced by the latest figures of the Deutsche Bundesbank’s Statistics on Payments and Securities Trading, Clearing and Settlement. A total of 24 billion non-bank customers’ cashless payment transactions, worth a combined €61 trillion, were processed by German payment service providers. This represents an increase of 7% in volume or 8% in value compared with the previous year.
Card payments increased the most, by almost 19% to 6.3 billion, with debit card transactions accounting for the greatest
Card payments increased the most, by almost 19% to 6.3 billion, with debit card transactions accounting for the greatest
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