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Why Germans pay cash for almost everything
- lispm 12y agoThe article fails to mention that cash often means electronic cash. Here in Germany a lot of things are paid for with EC cards. They are like cash and are paid directly from the usual back account. This is usually cheaper than using a credit card - especially for the dealer. So this has nothing to do with 'payment of the past'. Electronic cash is widespread, but in the form of debit cards. I don't need a credit card for paying at the supermarket, shops, train tickets, ... I just take the EC card. Since most people have enough money on the bank account, these everyday transactions are painless.
- sebst 12y agoAre you sure that EC payments are counted as cash payments? I remember from some economics lectures that this is not the case. Interesting point, though. I'll try to investigate that further.
- lispm 12y agoI was yesterday at a large local electronics store. I can assure you that almost nobody paid there with cash. Most use the EC card... Got to a supermarket. Lots of people use the EC card. Buy some clothes - use the EC card... Very few people use a credit card. Often the shop does not accept them, because they are too expensive. But they will happily accept the EC card... Germans are 'Pfennigfuchser' and they can easily see that the credit card makes things more expensive. A bit background: http://www.faz.net/aktuell/wirtschaft/bargeldloses-bezahlen-die-ec-karte-verdraengt-die-kreditkarte-11113894.html http://www.faz.net/aktuell/wirtschaft/bargeldloses-bezahlen-...