Contactless transactions surge in cash loving Germany, Austria and Switzerland

Top Trends By Finextra Nov 8, 2021

Finextra reports that more than 75% of cashless transactions in Germany, Austria and Switzerland are now contactless.

Due to coronavirus, some areas in region have experienced “a dramatic transformation in contactless adoption over the last two years” and those regions within GSA are now “on a level field with the Nordics” in terms of contactless payment usage rates, they say.

The website quotes Robert Hoffmann, CEO of Nets Merchant Services, who says: “it was inevitable that Germany, Austria and Switzerland would ultimately achieve high levels of contactless payment adoption, but without this catalyst, it would have taken years to reach where it is today.”

This article was written by Finextra and originally published on Finextra. A subscription may be required.