Thursday , January 20 2022

Austrians remain loyal to cash



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The corona significantly changed the way Austrians pay, but cash remained the most popular means of payment with 66 percent of all in-store transactions. This is the result of a study by the National Bank published yesterday.

Bank card transactions increased proportionally by ten percentage points to 27 percent compared to 2019. In contrast, only two percent of payments were processed by credit cards. Only 0.7 percent of transactions were paid via mobile phone (eg Apple Pay, Bluecode). “As expected, this percentage is the highest among those under 30 and decreases with age,” the National Bank said.

In the survey, about 62 percent of respondents also stated that they had bought products online in the last twelve months. Nearly a third of Austrians have bought significantly (eleven percent) or slightly (19 percent) more online since the start of the pandemic. About half of the compatriots stated that they did not change their behavior when shopping online.

When it comes to online trading, most Austrians pay via bank transfer (31 percent) or via online payment systems (25 percent), such as PayPal or Klarna. After all, five percent of Austrians also pay in cash online, for example by cash on delivery.

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