Cash is no longer king in Germany

Frankfurt

CASH no longer makes up most of the money spent in Germany, a Bundesbank study showed on Wednesday, denting a historical supremacy over other means of payments rooted in the country's longing for privacy and freedom.

The survey showed that cash accounted for 47.6 per cent of German transactions by volume last year, down from 53.2 per cent three years earlier and below the half mark for the first time since polling started in 2008.