Bargeldlos bezahlen: Die Zukunft des Einkaufens

Paying cashless:the future of shopping

Since the corona pandemic at the latest, the options for cashless payment have increased everywhere. in order to reduce the risk of infection, retailers in particular promoted payments with ec cards or smartphones. but cashless payment methods had also become established in certain establishments as a result of digitalization through online shopping and contactless payments. after all, constantly withdrawing money from atms is inconvenient and if you lose cash or become a victim of theft, you can never get it back. here you can find out what the most popular cashless payment methods are, as well as the most advanced holiday countries where you can pay for everything without cash.

Paying cashless: numerous advantages

In today's world, cash is no longer essential. although the motto only cash is true is still very common in germany, there is slowly a change in german wallets. regardless of whether it is a credit card, debit card, mobile phone app or smartwatch: cashless transactions have many advantages for consumers and retailers and are the future of payment transactions. below we list the main advantages of digital payments:f:

    • Efficiency: Thanks to quick cashless payments, customers no longer have to wait long. in addition, more options can be introduced, such as self-checkout cash registers, which consumers operate themselves and which save staff.d.
    • Time Saving: In particular, contactless payment with a card or electronic device is significantly faster than finding cash. you no longer have to search your wallet for the right coins and notes and you no longer have to count and give out change.
    • Security: Mistakes happen quickly when handling cash. notes are lost and change is accidentally given out incorrectly. without cash, you also have less to worry about theft. a card is protected by the pin and can be blocked with a phone call. lost money is gone forever.
    • Hygiene: Cash passes through many hands. unnecessary contact is avoided, especially with contactless payment without entering a pin. cashless payment is therefore more health-conscious and hygienic.
  • Stress-Free Vacation: Anyone who goes on vacation abroad benefits from the options of cashless payments. there is no need to exchange currency or withdraw money from atms with high fees. you also feel safer in a foreign country without a lot of cash, as a loss does not have such serious consequences.
  • Where can i pay cashless??

    Where cashless payment is possible depends primarily on the retailer themselves. such payments are common in supermarkets, gas stations, shops and hotels. it is also often practiced in restaurants and bars and in smaller shops. although the technical requirements are there, many street vendors, bakers, weekly markets and beer gardens in this country still do without appropriate reading devices and insist on cash. in a european comparison, germany ranks in the lower midfield when it comes to cashless payment options. while people in the scandinavian countries and great britain can easily get by without cash, people in this country still have an average of 100 euros in cash in their wallets. however, the trend is moving towards digital payments and it is expected that germany will also catch up when it comes to card payments in the next few years.

    The most common contactless payment options at a glance

    In germany, digital payment has become particularly popular among young people. around 71 percent of people under 40 use cashless payment options. not only does cashless payment have many advantages, there are also many different methods for making a purchase digitally and contactlessly.

    In this article we will concentrate on services on the go and leave out online shopping, transfers and the rest of the online payment transactions.

    Pay with card

    The most popular method of paying without cash is still using cards. they are recorded through payment terminals and payment is made either contactlessly or by inserting the card and entering the pin. using appropriate mobile card readers, you also have the option of making cashless payments on the go, at weekly markets or when delivering goods. depending on the type of card, the costs are debited differently:

    • Checking cards: the payment amount is debited from the checking account immediately after the transaction.
    • Credit cards: payment is not due to the consumer until the end of the month. all collected payments are debited at once.
    • Prepaid cards: the cardholder must first transfer credit to the card in order to make cashless payments with the card.

    Pay with your smartphone

    If you don't always want to carry cards with you to pay or if you want to make your purchase even faster, you can pay using your smartphone. if the cell phone is equipped with nfc, you can use apps such as google pay or apple pay. to do this, the credit card must be stored on the device with the relevant data. after setting it up, all you need to do is hold your smartphone against the payment terminal at the checkout. small amounts are authorized immediately; for larger payments, the process must be confirmed with the pin.

    Pay with smartwatch

    If you have a modern watch, you can even avoid taking a card with you. you can make various purchases easily and practically using a smartwatch. models from garmin, fitbit, apple, google and others offer this function, which even works without an internet connection. after a round of jogging, you can easily buy a drink or something to eat without taking money or a smartphone with you.

    As with cell phones, payment is contactless using nfc. in order for the setup to be successful, when purchasing the smartwatch you should check whether the corresponding payment service on the watch works with your own financial institution. after installation, the watch simply needs to be held up to the reader when paying and the sale is made.

    Cashless holidays: the best countries in europe

    While it is normal in this country that not every shop or restaurant offers cashless payment, it is common practice in certain countries. in the kiosk, in the restaurant and even at the street snack bar: ec cards, credit cards or mobile payment are accepted everywhere. if you prefer to travel without cash and don't want to take notes with you on vacation, these are the best european countries with cashless payment options:

    1. Norway
    2. Sweden
    3. The Netherlands
    4. Finland
    5. Great Britain

    There are many reasons why the scandinavian countries are pioneers in cashless payment methods. on the one hand, residents have a high level of trust in the institutions and banks in their own country and feel that their money is safe there. on the other hand, regardless of age, they have good computer skills so that they can understand how payments are processed. sweden even plans to completely abolish the use of cash by 2030. if you are on vacation in these countries, you can safely do without cash and pay with cards, cell phone and watch everywhere.

    If you are looking for the ideal travel wallet, you will find compact ones here Mini Wallets, which are small but still offer space for your cards and some cash.

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