Suche
Mein Konto
Cashback usage in Germany increases by 20 percent
EHI study: Cashback usage is increasing, but cash withdrawals at the checkout are about to end? Financial burdens threaten if trends continue. Read more.
Cashback usage in Germany increases by 20 percent
In 2023, the amount of so-called cashback in Germany increased by around 20 percent to 12.31 billion euros. This was the result of a study by the EHI research institute in Cologne. Despite this increase, the most popular payment method in retail remains card payment, while the share of cash is declining.
For grocers, drugstores and hardware stores that offer cashback, the declining share of cash means it could become more difficult to fully maintain this service. These companies have already paid out 13.3 percent of the cash they collected back to customers and had to pay around 17.23 million euros in fees for the service in 2023.
The amount of cash in German retail fell by two percent to a total of 172 billion euros, with the share of physical money being 35.5 percent. In contrast, sales of payments with cards rose to 61.8 percent or 300 billion euros. According to the study, the most popular card was the Girocard with a share of 42.4 percent of total sales, followed by credit cards and debit cards with 8.6 percent and 4.1 percent, respectively.
The researchers emphasized that a further reduction in the cash quota would place financial burdens on retailers as they would have to obtain additional cash. The research institute therefore calls for consideration of the importance of cash in the retail landscape in order to continue to guarantee a smooth service for customers.