Nearly half of Germans embrace digital wallets for online payments

Nearly half (49 percent) of German consumers are turning to digital wallets for their payment needs, according to data from PYMNTS Intelligence.

The data also confirms that the most popular use of digital wallets for consumers in Germany has been for paying for online purchases, and around one in three local consumers use it for paying bills.

From a survey of 2,302 consumers in Germany conducted from January 11 to February 5, it was dicovered that older generations, including baby boomers and seniors, are more likely to use digital wallets for online purchases than Generation Z. In fact, the report shows that more than one in five Gen Z consumers in Germany have used digital wallets for traveling or transportation purposes.

The report, titled “Digital Wallets Beyond Financial Transactions: Germany Edition,” is a collaboration between PYMNTS Intelligence and Google Wallet.

It reveals that 23 percent of Gen Z and 15 percent of millennial consumers in the country used nonfinancial credentials stored in digital wallets for travel and transportation uses, such as boarding passes. Additionally, 65 percent of German consumers that store their credentials in a digital wallet and use it for purposes such as identity verification or accessing events, generally report high satisfaction with the experience.

This report is part of a series examining the use of digital wallets in major economies. The series provides a comparative look at how digital wallet usage in Germany stacks up against other countries.

Germany is in the process of developing its EU Digital Identity (EDUI) Wallet, with Google and 10 other organizations participating in a prototype competition.

Article Topics

consumer adoption  |  digital wallets  |  financial services  |  Germany  |  identity verification