Cashcloud CEO Hunzinger regarding the ING-DiBa survey: "Germans have no innate cash gene!"
"Cash beats the smartphone": Under this title Handelsblatt presented earlier this week the results of a recent survey of ING-DiBa about Mobile Payment. The direct bank had determined that only one third of German consumers will increasingly use in future their smartphone to pay at the checkout; the European average is 52 percent. In addition, only 31 percent of Germans have reduced their cash usage last year - compared to 53 percent in total Europe. Cashcloud CEO Prof. Moritz Hunzinger sees the results relaxed: "Mobile Payment will prevail in Germany! Because I can assure you: Germans have no innate cash gene but still only few points of contact with the mobile payment."“
Responsible for the German reticence are according to Hunzinger "especially the lack of acceptance points in retail stores as well as the complexity of the providers. While in the UK or Scandinavia already church collections and public toilets can be handled with a smartphone, too many retailers in Germany are reluctant to mobile payment." According to the Cologne market research institute EHI 60 percent of the large retailers want to offer the NFC technology at their checkouts. "Accrue to that the reluctance of vendors such as Apple or Samsung, which still dare to enter the German market - allegedly due to the low demand. But here we have come round in a circle, because people cannot learn to love anything that they do not know. With Cashcloud we go ahead to convince Germans of the indisputable advantages of mobile payment," says Moritz Hunzinger.