Mobile payment comes to Germany: The beginning of the end of cash? [5 Reading Tips]

mobile payment, smartphone, kontanktlos
Photo by Jonas Leupe on Unsplash

Contactless payment with a smartphone, without use monetary notes, coins, or cards are the way of the future. But this isn’t anything new for many countries already. Forms of mobile payment have long been established and analogue forms of payment money a distant past. Compared to China or the USA, Germany is so old-fashioned in this aspect. On one side there Google and Apple and on the other the traditional German banks. Both want to change the way people in Germany pay for things every day.

But German customers and businesses don’t just change their ways because of “innovative” ways of doing things – even if analysts say a potential for change is very high.

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Mobile commerce needs more mobile payment initiatives, like these three! [5 Reading Tips]

Quelle: Mastercard & Fitbit
Source: Mastercard & Fitbit

In China, mobile commerce is already a part of everyday life. 82 percent of the revenue from the last “Singles Day” was generated via mobile devices. Customers in this market love to make purchases using their smartphones; especially for small transactions at places like food stands via Alipay or Tenpay (the Alibaba and WeChat e-wallets). This is possible by scanning the QR code posted on the stand. The role mobile commerce plays in China is an ideal model for every western front runner who also wants to participate.

The question is: when could this scene take place in Germany?

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Throw your credit cards away! The smartphone is your next payment method [5 Reading Tips]

Quelle: Denis Prikhodov - Fotolia.de
Quelle: Denis Prikhodov – Fotolia.de
It is exciting times for quick and easy payment methods. Google, Paypal, Apple, and Samsung are recently moving forward in their race to increase the reach of their online and mobile payment solutions. The new payment methods aim to boost conversation rates at the checkout point by enhancing the customer paying experience on every device, especially on smartphone. Where is the new batch of payment methods heading?

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