Germans’ Love of Cash Is Dented by Pandemic, Online Shopping
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Germans’ use of cash declined last year as the pandemic and the growing popularity of online shopping boosted electronic payments, though it remained the top means of transaction in Europe’s biggest economy.
Banknotes and coins accounted for almost three-fifths of payments in 2021 -- down from 74% in 2017, the Bundesbank said in a study published Wednesday. In monetary terms, the share of cash dropped to 30% from 48% over that period.