According to a study, cash is and remains by far the most popular means of payment in Austria. After three years of steady decline, the use of notes and coins has increased slightly again this year. 77 percent of the respondents in Austria often pay in cash.
“The fact that cash use remains stubbornly high is partly because cash is perceived as particularly trusted in uncertain times,” Christian Bruck, partner at BearingPoint consultancy, analyzed the results of a YouGov on Tuesday -Elevation.
According to the representative survey, only 13 percent of people in Austria and Germany can imagine going without cash altogether for the next two years. 74 percent in Austria and 65 percent in Germany do not expect a cash shift in the next ten years.
However, other payment methods – for example online via Paypal or by smartphone via Apple Pay – are gaining in popularity, as other studies confirm. In addition, contactless payment with a bank card at the checkout of the supermarket was given a boost during the corona pandemic.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
