Cash is becoming scarce
Posted: Sun Feb 02, 2025 6:36 am
Many payments are already made cashless, whether they are made online or offline. Credit cards and mobile payment options make it unnecessary to carry cash in your wallet. As a result, many Germans no longer carry cash at all and only withdraw money from ATMs for special purposes. Even small shops often have an NFC-enabled reader that can be used to pay with a card, smartphone or smartwatch . In the future, cash may even be abolished - but this will take some time. In 2030, we will certainly still be able to stand at the checkout with the banknotes. However, the first steps have been taken, as shown by the abolition of the 500 euro note in 2019. Since large transactions mostly take place online, the banknote has become obsolete.
Modern payment methods available
There are a variety of payment methods available online that make it possible to pay for purchases or bookings. Each has different advantages and disadvantages that need to be considered depending on the area of application. greece gambling data Purchasing on account - i.e. with a payment slip - is currently still the most commonly used payment method. However, this will certainly change in the next few years . Even the credit card is already starting to lose importance. Although it is still offered as a means of payment by most platforms in the eCommerce, travel and gaming sectors, the number of users is declining. Instead, eWallets are a popular alternative that has more users every year. The most widely used eWallet is PayPal, which already accounted for 28.2% of sales from payment methods in online retail in Germany in 2021. This puts PayPal almost on a par with purchasing on account (28.3%). PayPal is offered by an enormous range of online shops and service providers and is even easier to use thanks to the app. However, other eWallets can keep up with the industry giant because they focus on specific markets. Good examples of this are Neteller and Skrill, which have established themselves primarily as casino deposit methods . Many gaming platforms also allow winnings to be paid out directly to eWallets, which makes the process easier. A major advantage of such digital exchanges is that no bank details need to be passed on to pay. Purchases are only made using the linked email address . Skrill and Neteller have now also specialized in the crypto market and offer trading in various digital coins. It remains to be seen whether eWallets will eventually replace physical wallets. However, the importance of such payment methods should not be underestimated and will only increase over time.
Modern payment methods available
There are a variety of payment methods available online that make it possible to pay for purchases or bookings. Each has different advantages and disadvantages that need to be considered depending on the area of application. greece gambling data Purchasing on account - i.e. with a payment slip - is currently still the most commonly used payment method. However, this will certainly change in the next few years . Even the credit card is already starting to lose importance. Although it is still offered as a means of payment by most platforms in the eCommerce, travel and gaming sectors, the number of users is declining. Instead, eWallets are a popular alternative that has more users every year. The most widely used eWallet is PayPal, which already accounted for 28.2% of sales from payment methods in online retail in Germany in 2021. This puts PayPal almost on a par with purchasing on account (28.3%). PayPal is offered by an enormous range of online shops and service providers and is even easier to use thanks to the app. However, other eWallets can keep up with the industry giant because they focus on specific markets. Good examples of this are Neteller and Skrill, which have established themselves primarily as casino deposit methods . Many gaming platforms also allow winnings to be paid out directly to eWallets, which makes the process easier. A major advantage of such digital exchanges is that no bank details need to be passed on to pay. Purchases are only made using the linked email address . Skrill and Neteller have now also specialized in the crypto market and offer trading in various digital coins. It remains to be seen whether eWallets will eventually replace physical wallets. However, the importance of such payment methods should not be underestimated and will only increase over time.