A recent survey conducted by comparison platform Verivox reveals a growing adoption of mobile payment methods among German consumers. The study, reported by German media outlets, indicates that 36 percent of Germans have already utilized their mobile phones to make purchases at checkout counters.
The survey also highlights the increasing frequency of mobile payment usage. Twenty-one percent of respondents report their most recent payment via smartphone occurred within the last week, while 31 percent have employed the method within the past month.
“Paying with a smartphone is quick and convenient” stated Oliver Maier, Managing Director of Verivox Finanzvergleich GmbH. “Many people carry their mobile phones even when they leave their wallets at home”. Maier further noted that approximately one in seven respondents now consider their smartphone their preferred method for smaller in-store purchases.
The study identified a preference for mobile payments among certain demographics. Fourteen percent of those surveyed indicated they would ideally use a smartphone to pay for a 20-euro purchase. Notably, those holding a higher education degree (university or equivalent) are significantly more inclined to use mobile payments – 20 percent preferring the method — compared to those with a lower educational background, where the preference drops to just 9 percent.
Despite the rising popularity, a degree of skepticism remains regarding dominant US providers in the mobile payment sector. Only a quarter of respondents express trust in either Apple Pay (15 percent) or Google Pay (11 percent). Conversely, half of respondents would place their trust in a payment app offered directly by their bank or savings institution.
Several German financial institutions, including Sparkasse, Volks- und Raiffeisenbanken and Targobank, already offer dedicated payment apps for Android smartphones. Other institutions have integrated mobile payment functionality into their existing banking applications. iPhone users are currently limited to Apple Pay, although the company has been compelled to open its system to third-party providers. Users of iPhones seeking alternatives to Apple Pay may still need to rely on third-party solutions, though the emergence of the European payment service Wero presents a potential future competitor.