Cash or card – will COVID-19 kill cash?

More and more people are paying with cards or apps these days. Could COVID-19 spell the end of cash? Many people have switched to contactless payment because of fears that the coronavirus might be transmitted by bills and coins.
They even use debit cards for small sums at the bakery or newsagent’s. Electronic payment systems are on the rise. Germany is torn. Up to now, Germans have been known for their love of cash. The country has been famously reluctant to embrace payment by card or app.
But since the beginning of the coronavirus crisis more and more people have switched to paying electronically. For many months, it was unclear whether the virus could spread on paper currency and coins. It’s now believed that the risk of COVID-19 transmission on money is low.
But the pandemic has amped up the trend toward cash-free payments in Germany. According to a survey by the Association of German Banks, almost 60 percent of people in Germany now pay by debit or credit card, or with smartphone apps.