German Bank CEO John Cryan surprised with a daring thesis: Cash will disappear in the next decade. Because: “Cash is terribly expensive and inefficient.” But it is precisely the Germans hang on bill and coin. While about Sweden and Denmark digitize their payments radically, people in Germany continue to pay primarily in cash: In 79 percent of transactions, as the Bundesbank calculated using data from the 2014th Just over half (53 percent) of retail sales are handled with cash.
“In my opinion, the share of cashless payments increase while cash will remain” affirmed Bundesbank board member Carl-Ludwig Thiele, given the Cryan-thrust in the “Bild” newspaper (Friday). Cash payer appreciate the fact that they have a clear picture of their spending and do not have to worry about privacy when making payments.
half of the turnover in cash
Even when trade association HDE is not believed to a quick farewell note and coin. “If and when the end of the cash comes, choose the customer. The trade currently takes more than half of its sales via cash counter”, let HDE Managing Director Stefan Genth main declare on demand. “In this respect, there is no end yet in sight, even if the sales are rising steadily but slowly with card payments.”
The fact that plastic money carries risks, just this week came to light again: Because criminals trying to get at data from credit cards, banks exchanged several tens of thousands of cards from precaution.
banishment of one- and two-cent coins
In Kleve on the Lower Rhine at least one- and two-cent coins will soon be a thing of the past. Under the pithy title “Kleve banished the small change” were called 800 retailers in this week to take part in the campaign from 1 February. Prices should then be rounded up or: cost two products together, for example, 14.48 Euro 14.50 Euro cash will be due, a total price of 15,61 Euro comes off, be rounded down to 15.60 euros.
small change is increasingly for the retail industry a cost factor, they say to justify. “We lie close to the border, the Dutch do it for eleven years,” said the managing director of city marketing, Ute Marks. “Maybe is indeed from the small Kleve times a wave across the country.”