German contactless payments rose due to Covid-19

Deutsche Bundesbank headquarters, Frankfurt
The Deutsche Bundesbank
Fabian Stürtz

German consumers have made far more contactless payments during the Covid-19 pandemic, despite their well-known attachment to using cash, a Deutsche Bundesbank board member said.

The desire not to touch coins and notes seems to be one reason behind this change, Burkhard Balz said in a speech on October 21. “While handling banknotes and coins is not a likely cause of infection, the wish to avoid any contact was still reason enough for many retailers to start offering card payments more actively

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