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Cash, electronic or online: How do Germans pay?

December 20, 2018
Region:
Germans are known as heavy cash users. In 2017, they paid cash for most of their purchase transactions. If they do not use cash, they prefer to pay by direct debit or card. Credit transfers and e-money payments are used less often. Germans initiated almost one fifth of cashless payments via the internet. Mobile payments were rarely used but this will likely change given a number of new mobile payment services came on the market in 2018. In Q3, German households took out an impressive EUR 16 bn in net new loans, the highest quarterly figure since the introduction of the euro. Of this, EUR 13 bn came from mortgages, while consumer lending lost some pace. Deposit inflows were buoyant for a Q3 and German households increased their savings rate to 10.7%. [more]

More documents about "Germany"

241 (145-156)
July 28, 2015
Region:
145
Debate over blockchain technology is raging in many online and offline media at present. In principle, the technology constitutes a decentralised ledger system that can be coordinated via peer-to-peer (P2P) networks. Any ownership or security issues arising in connection with the decentralised transactions conducted across the ledger system are handled by P2P mechanisms as well, i.e. also without a central node. Ownership status is established via the digital exchange of cryptographic keys (public vs private), while fraudulent transactions can largely be ruled out with the help of the cryptographic 'proof of work' system. Using a proof of work, blockchain technology enables the rapid, inexpensive transfer of assets and financial products between individuals who neither know nor trust one another, without a compelling need for an intermediary to reduce existing information asymmetries. [more]
July 20, 2015
Region:
146
If all goes well, the Iranian economy could begin to reintegrate into the world economy in early 2016. This harbours opportunities especially for Iran itself and its 80 million inhabitants. However, it is also likely to provide a moderate stimulus to world trade and German exports. In addition, increased Iranian oil production could dampen oil prices and thus support the growth of real income of German households. [more]
July 3, 2015
Region:
147
The digital strategies currently unveiled by traditional banks do not go far enough and often deliver only fragmented silo solutions. With each division “doing its own thing” and adopting the silo principle that stifles innovation, many (digital) financial innovations are primarily experienced at the client front-end and are also warmly welcomed. However, the banks will not achieve resounding success using such methods. [more]
June 30, 2015
Region:
148
These days, financial market commentaries are often laced with expressions such as "topsy-turvy" and "Alice in Wonderland". Recently, even Bank of Japan Governor Kuroda described the need for unconditional faith in the inflationary impact of Japanese monetary policy with a reference to Peter Pan, quoting Peter as saying that (in his world) "the moment you doubt whether you can fly, you cease forever to be able to do it". [more]
June 29, 2015
Region:
149
While the core inflation rate has remained relatively stable since 2011 at an average of slightly above 1% yoy the oil price slump is the main reason for the temporary decline in consumer prices at the start of 2015. However, the oil price rise of some 30% since January and the stabilisation of the EUR exchange rate sent the German inflation rate out of negative territory after just one month and then made it accelerate to 0.7% yoy recently. We therefore expect slightly stronger increases in consumer prices of 0.5% this year and 2.0% in 2016. With our forecast the risks are more pronounced to the downside. The oil price might rise more slowly than expected on account of the global oversupply. In addition, the EUR/USD has now stabilised at above 1.10 after hitting its low in mid-April. Our forecast assumes EUR/USD parity by year-end. [more]
June 26, 2015
Region:
Analyst:
150
The average age of cars on German roads hit a new record high of nine years at the beginning of 2015. The primary reason for this is the improved quality of vehicles. Although the diesel share of new car registrations has averaged well over 40% in recent years, diesel only constituted 31% of the cars on German roads at last count. The durability of cars is causing the mix of cars in service to change only slowly. The diesel car example suggests that it may take many years before cars powered by alternative technologies constitute a major share of all the cars registered in Germany. The vision of a future with largely climate-neutral or locally emission-free vehicles on German roads by 2050 is virtually unattainable as things currently stand. [more]
June 24, 2015
Region:
151
Clients with a migrant background are growing in importance as a target demographic for retail banking. In collaboration with Bayreuth University we have carried out an empirical analysis of risk attitudes in this customer group using data supplied by the German Socio-Economic Panel (SOEP). Our findings allow implications to be drawn for bespoke advisory services for clients with a migrant background. In effect, banks will be able to raise the quality of their financial advice to the customer's benefit – and tap into a key growth market at the same time. [more]
June 22, 2015
Region:
152
Germany was an attractive destination for migrants in 2014 for the fifth year in a row. The net migration balance climbed again by roughly 20% on the year and clearly exceeded the 500,000 mark for the first time since 1992. Roughly 1.4 million persons immigrated to Germany, the second highest total in the last 65 years (1992: 1.5 million). Since the beginning of the sovereign debt crisis in the eurozone in 2010 a net 1.7 million persons have migrated to Germany, so despite a shrinking domestic population the total population has expanded by approximately half a million. [more]
June 1, 2015
Region:
154
The Q1 GDP details provide some comfort relative to the disappointing 0.3% qoq headline number. Final domestic demand was up 0.8% qoq while net-exports as well as inventories both provided a drag. Thus, our 2015 story of GDP growth driven by strong domestic demand remains intact. Despite this, we lower our 2015 GDP forecast from 2.0% to 1.6%. This is primarily due to the weaker-than-expected Q1 GDP growth that provides a lower starting base for 2015. However, we still expect quarterly growth rates to average a healthy 0.4% qoq in 2015. Further topics in this issue: Construction investment: Sharp increase expected, but focus on downside risks, The view from Berlin. German politics: Quarrel among friends and families. [more]
May 28, 2015
Region:
Analyst:
155
The German government is sticking to its target of reducing greenhouse gas emissions by 40% from the 1990 level by 2020. As it currently seems doubtful that the target will be achieved, Minister of Economics Sigmar Gabriel suggests introducing an additional climate contribution for older electricity power plants with particularly high CO2-emissions. Especially older lignite-based power plants would be affected by such a measure. And this at a time when many power plants are under pressure anyway due to changes in the investment strategies of a large Scandinavian investor. [more]
May 28, 2015
Region:
156
Politicians should focus on an expansion of building activity in the major cities and conurbations in order to reduce the upside pressure on house prices. In the past few months there have been indications of easing activity in the construction sector. If this trend materialises, the pressure on house prices will intensify further. One possible cause of this development is capacity restrictions, and a lack of suitable skilled labour in the finishing trades in particular. An immigration law that specifically focuses on bottlenecks in the labour market could help to bring about some relief. If it becomes obvious over the next few months that construction growth is going to remain sluggish long term, rent control should not be implemented in the regions. [more]
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