How do I get paid with infographics

How we will pay in 2040 - infographic

Under the influence of Corona, behavior is currently changing with regard to financial issues and payment: digital is gaining in importance compared to analog. A study examined the preferences and wishes of Germans for the future of 2040.

Mobile payment, paying via smartphone, is still in its infancy in this country. The requirements are diverse. In the Bank Blog you will find the latest studies on this new development, which is a particular threat to banks and savings banks.

The technological revolution has radically changed our world in a very short period of time. The opportunities that arise from new forms of communication, for example, are enormous. On the other hand, there are also risks, especially when it comes to data protection. In addition, there are the current changes as a result of the Corona crisis.

The financial sector is also badly affected by these changes. The range of digital payment methods has also multiplied in recent years. In China, service providers such as Alipay (Alibaba) or Tenpay (Tencent) have meanwhile become firmly established. And here too, the trend towards cashless payment methods seems to be accelerating - also due to Corona.

A new study by the German Payment Systems Initiative in cooperation with infas quo has dealt with these developments and investigated the question of what the wishes and preferences of Germans - also with a view to financial advice and payment - are for the year 2040.

Proven payment methods still at the top

According to the results of the survey, consumers will continue to rely heavily on familiar payment methods in the future. 37 percent of those surveyed see cash and 21 percent the girocard as the two systems with which they would prefer to pay on site, even in 20 years' time. 15 percent prefer paying with biometric features, 12 percent mobile payment by smartphone and 11 percent continue to use credit cards.

All in all, Germans expect classic card payments and digital methods to be equally represented in the future.

Trust in financial matters

Trust is the most important currency for all generations - online and offline. - Karsten John, infas quo.

When it comes to financial matters, too, Germans place their trust in the tried and tested. 71 percent of respondents trust their personal environment when it comes to money matters, 59 percent trust their house bank and 51 percent trust their bank advisor.

Germans are skeptical about digital offers. Only 13 percent trust internet blogs on the internet or financial podcasts.

However, younger people are more open to information from the Internet. For example, 23 percent of Generation Z trust financial podcasts, compared with just 2 percent of senior citizens. Overall, however, a combination of online and offline also performs best with younger consumers.

Wishes for the digital future

When looking generally into the future, the respondents across the generations agree that traditional values ​​continue to be of great importance. 88 percent trust in medical progress, 86 percent hope for an intact environment, 83 percent strive for security in the family and 77 percent for contact with friends and for free time to pursue their own interests.

Generation Z in particular, who grew up with the new technologies, questions and analyzes the changes critically and thinks about the advantages of analog values, personal exchange and individual advice.

In general, therefore, a strong intertwining of digital and analog life can be expected in the future. People will each choose what suits their individual life situation best. Trustworthiness will play a major role in successfully establishing something new.

Infographic: How Germans want to pay in 2040

The following infographic summarizes important results of the survey and shows, among other things, the expectations and preferences of Germans when it comes to payment and financial issues in 2040:

How the Germans want to pay in 2040.