Germans prefer mobile payments at checkouts, accounting for 36% of transactions.
In a survey commissioned by comparison portal Verivox, it was revealed that mobile payments are becoming increasingly popular in Germany. One in seven survey respondents prefers to use their smartphone as their preferred payment method for small purchases, and this number rises to 14% for purchases of 20 euros.
Oliver Maier, CEO of Verivox Finanzvergleich GmbH, stated that mobile phone payments are quick and convenient. He also noted that many people carry their mobile phones even when they leave their wallets at home.
Sparkasse, Volks- and Raiffeisenbanks, Targobank, and other institutions have integrated a payment function into their banking app, offering their own payment app for Android smartphones. In Germany, banks and financial institutions currently offering their own Android smartphone payment solutions mainly support Google Pay. Advanzia Bank, for instance, supports Google Pay for Mastercard Gold holders.
While half of all respondents trust their own bank's or savings bank's payment app for mobile payments, only 15% of respondents trust Apple Pay, and 11% trust Google Pay. iPhone users are limited to Apple Pay for mobile payments, but can use third-party providers like PayPal.
The survey results were reported by newspapers of the Funke media group. The data showed that 36% of Germans have used mobile phones for in-store payments at least once. Among academics, 20% prefer to pay with their smartphone at the checkout, while among those with secondary or primary school education, it's 9%.
In the long term, the European payment service Wero could become a competitor to Apple Pay. This development suggests that the landscape of mobile payments in Germany is set to become more diverse and competitive.
With 21% of surveyed mobile payment users having used their smartphone to pay within the last week, and 31% within the last month, it is clear that mobile payments are gaining traction in Germany. As banks continue to improve their mobile payment services and more consumers become comfortable with the technology, we can expect to see even more widespread adoption of mobile payments in the future.
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