Yet, the picture is also changing in Japan. For instance, your Prime Minister has announced plans to increase the share of cashless payments to around 40% by 2025. [6] Particularly popular in Germany are proving to be contactless payments using a debit card.
Although most of these transactions are still settled in the traditional way with a physical card present, tech-savvy individuals, and frequent and keen smartphone users are increasingly using their phones to pay at the point-of-sale. The topic of mobile payments is gaining more momentum by the day in Germany, and there is little doubt that it will also reduce the use of cash further.