Covid-19 & Cashless Payments:
Has Coronavirus Changed Europeans’
Love of Cash?

By SME Europe

For many Germans, using cash is not just a personal preference; it is a cultural value, one tied closely to longstanding social conventions. Yet since the onset of the coronavirus pandemic, cash payments have, for the first time, been actively discouraged in Germany and Germany’s on-the-ground reliance on cash has been upended. In a few weeks, cash went in many places from being expected to be stigmatised or banned altogether due to fear of contagion. The Bundesbank survey 2020 about consumers and their purchasing methods at point-of-sale has already shown Covid-19-driven changes in Germany’s consumer behaviour. Now it is hard to imagine cash regaining its former throne in German and European consumer life.

This virtual event wants to draw conclusions from the German debate, trends, and solutions in order to inform future European approaches. SME representatives, financial services companies, and our political members will take part in this European debate.