Other trends in cashless payments

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Germany is not a pioneer when it comes to developing or implementing new payment methods. It is more likely that foreign companies are struggling a little with the cash-loving Germans. However, that does not stop them from developing new payment methods.

A particularly relevant trend at the moment is paying by smartphone. Apps of all kinds now allow you to pay in many supermarkets and retail stores. Some experts expect this method to become popular among young people, who are practically skipping the debit and credit card phase and doing as much as possible via their smartphone.

Smartwatches can also be used for payment. However, an infrastructure must australia gambling data first be established before a new system can be established. So far, payment via smartwatch is not widely available enough to be an option for many people. Nor is it faster or more secure than alternatives using a card or smartphone.

Cryptocurrencies must also be kept in mind when looking to the future. They have now left their status as a niche product behind. Companies such as Microsoft and Lieferando already offer payments via Bitcoin. The more well-known and trustworthy crypto technologies become, the higher the likelihood that more and more companies will accept them as a payment method.

Last but not least, there are cashier-free shopping systems. Amazon is a pioneer here, and is already making a start with its Amazon Go stores. Sensors can measure which items are in the shopper's basket. Payment is then made simply via an app, without the need for a cash register or cashier. This type of shopping is currently only possible in the USA, but it shows the direction in which things could go.