Interesting read (German language, but you should be able to decipher the diagrams)
https://www.heise.de/newsticker/meldung/Tschuess-Bargeld-Deutsche-kauften-2018-erstmals-mehr-mit-Karte-ein-4415881.html
Germany has long been a cash first society. For the first time ever, paying with plastic has exceeded paying in cash.
48.6% (209 short-scale billion* Euros) of transactions were made with credit, debit or “other” types of card (Maestro/V-Pay/MC Debit or store cards). 48.3% (208 short-scale billion Euros) was paid out with cash, with a further 2.5% on invoice and 0.6% “other”.
What is interesting is, even though 48.6% was plastic, 30.1% was with debit cards and 10% ELV (electronic direct debit), with credit cards only accountable for a total of 6.9% of all transactions. The plastic also, as far as I can see, also includes smartphone payments using NFC banking apps tied to a debit or credit card.
* Short scale (or US) billion is 1,000,000,000, also known as a milliard. An billion is 1,000,000,000,000.
Bats
<p>People should be paying in plastic (credit)….PERIOD. </p><p><br></p><p>The other plastic (debit) is a WASTE. It really is.</p><p><br></p><p>To be honest, I hardly do pay with plastic….as in handing to whoever my credit card. Rather I pay mostly with my phone or my watch. LIFE IS JUST EASIER, when everything is one place. For me, it's my Pixel phone. </p><p><br></p><p>Going back to credit cards…</p><p><br></p><p>People should be using credit cards to make purchases and paying them off immediately. Yes, it can be a hassle to do so, but the benefits and positives seriously outweighs the negatives. LOL…I have 15 credit cards. The average balance that I carry for each of them is zero (0). I haven't really counted how many points and miles I have for all my cards, but it's perhaps about a million. LOL…I'll tell ya this, I am never flying coach again. For me, the minimum is always going to business class. If one is not like me and doesn't care to fly or travel in pure luxury, then at least use your points and miles to get free flights. </p><p><br></p><p>As for Debit Cards, they are a big time waste. You get nothing back for all your purchases. Absolutely nothing. My advice to people is to grow up and be mature and obtain credit cards. Don't let anyone tell you that getting and using credit cards is a "trap." Maybe it is, so…..don't fall for it. Use the credit card and pay it off right away. Then your set your phone up to make payments because…..LOL…..it just looks so cool paying with a phone (or watch). </p><p><br></p><p>Bats out.</p>