The debate over whether to do away with cash completely is moving into the next round. One thing is certain: the younger the consumer, the more cashless payments. According to a Mastercard Gallup survey, nearly half of all Austrians pay cashless payments.
1000 Austrians were questioned and the result was quite clear. If half of Austrians prefer to pay without cash, almost all of the 1,000 respondents prefer to pull out their ATM or credit card. Despite this, more than 60 percent of payments are currently still made with cash. Older people in particular prefer to pay with notes and coins.
According to the survey, 97 percent of those surveyed use a debit card for cashless payments and about half also use a credit card. About a quarter use their mobile phone for contactless payment in shops and one in five also use it in restaurants. However, 24 percent of Austrians are concerned about security when paying with their mobile phone, which is slightly less than in the previous year, in 2022 this was still a third of those surveyed.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
