Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Why Germans pay cash for almost everything

qz.com

Post reply on HN
Print view View original

221–230 of 497 posts

Re: Why Germans pay cash for almost everything

#221

Post by mrisoli »

felipelemos wrote: post #186
mtmail wrote: post #2

According to https://www.cashforless.de/ec_cash_info/Fakten_zur_Kartenzah... methods for payments in stores 2011 was 57% cash, 5.3% credit card, 33% debit card ( https://en.wikipedia.org/wiki/Electronic_cash ). > "of course, [the Germans] attitudes toward currency must owe something to Germany’s tumultuous monetary history. During the Weimar-era hyperinflation that peaked in 1923 [...]" > "the German tendency to sett…

Brazilian here. We had a three-to-four-digit annual inflation rates that last 14 years, from 1980 to 1994 (and it topped 5000% on the last year). Almost everyone uses debit or credit card nowadays. Even transport cards machines, taxis, small vendors, food trucks accepts credit cards. Usually I only carry cash for some emergency to the point I don't even remember how much I left on my wallet.

Fellow Brazilian here and I don't carry a lot of cash with me because that was how I was raised, mostly my parents taught me to be scared of being robbed with a lot of money. Even though I am not living in Brazil ATM I still act like this.

Plus fraud is becoming rarer with chip credit cards(and apps which allow you to lock your card much faster in the case of theft), while counterfeit bills are also harder to reproduce these days you can still find some.

Re: Why Germans pay cash for almost everything

#222

Post by lmm »

101km wrote: post #210
lmm wrote: post #132

Earlier quoted context omitted.

> "Always carry enough cash to get home" - my dad. In London you can't pay for a bus with cash any more.

You can still buy the oyster card with cash however, right? Now try catching a bus late at night after the shops close - what a silly system.

Finding an operating cashpoint late at night isn't especially easy either (and the reason most are shut down is that operational ones tend to attract muggings). It's a pretty practical system IME; having a payment method on you is no harder than having cash; indeed in this age of phone payment it's easier.

Re: Why Germans pay cash for almost everything

#223

Post by anarazel »

pantalaimon wrote: post #111
codegeek wrote: post #94

Earlier quoted context omitted.

As an american, I find it strange that cash is faster. Most people who pay cash need to wait to get the change back unless they know the total beforehand and happen to have exact change. In the US, credit card machines are very fast even the chip enabled ones. Cash workflow: - Cashier tells you the total amount - You look in your wallet/purse - You spend time counting exact change if you do have it - If not, you take…

> Credit card workflow: > - Cashier tells you the total amount > - You look in your wallet/purse > - You swipe card/insert in chip reader > - Done You forgot the part where you have to enter you PIN and wait for the transaction to go through, or sign the receipt.

You commonly don't have to do that for small transactions in your usual country.

Re: Why Germans pay cash for almost everything

#224

Post by mrisoli »

lanevorockz wrote: post #205
felipelemos wrote: post #186

Earlier quoted context omitted.

Brazilian here. We had a three-to-four-digit annual inflation rates that last 14 years, from 1980 to 1994 (and it topped 5000% on the last year). Almost everyone uses debit or credit card nowadays. Even transport cards machines, taxis, small vendors, food trucks accepts credit cards. Usually I only carry cash for some emergency to the point I don't even remember how much I left on my wallet.

To be fair, in Brazil we usually prefer cards because of the risk of being robbed.

True, Uber's decision of allowing cash payments in Brazil(because a lot of people can't get a credit card approved) was met with a very negative drivers' response due to increased robbery risks.

Re: Why Germans pay cash for almost everything

#225

Post by wott »

Sleeep wrote: post #207
sparkling wrote: post #87

Earlier quoted context omitted.

As a German a) I don't want to feed the Visa/Mastercard/Amex/Whatever leach earning a few cents of every transaction.

Handling cash is not free either, it also comes with transaction costs.

Nope.

Re: Why Germans pay cash for almost everything

#226

Post by memco »

zip1234 wrote: post #152
conanbatt wrote: post #119

Earlier quoted context omitted.

In america prices are always cent-specific (2.85, 3.78). Berlin, much like Argentina (cash strong markets) have rounded prices for everything, its actually much faster. What ist errible is the waste of time going to an atm frequently, or handling lots of petty coins or bills. Cards are definitely more convenient.

In Germany the price advertised is the price paid. Not so in America due to taxes and fees.

One thing I like about Square from an independent merchant standpoint is that I can mark that an item's price should be considered to include all relevant taxes & fees. This allows for listing prices in round increments. This is more helpful for cash transactions because most people only cary bills so I mostly only have bills to hand back as change. It is easier for me to deal in whole dollar or at least quarter increments so I never have to worry about pennies, nickels or dimes. For cards, I can charge arbitrary amounts and it doesn't affect me or the customer at all. Granted, you have to do a little math up front for each item to ensure you're getting the right profit per sale, but it's negligible to the amount saved by not having to count change.

Re: Why Germans pay cash for almost everything

#227

Post by herbst »

egeozcan wrote: post #54
mtmail wrote: post #2

According to https://www.cashforless.de/ec_cash_info/Fakten_zur_Kartenzah... methods for payments in stores 2011 was 57% cash, 5.3% credit card, 33% debit card ( https://en.wikipedia.org/wiki/Electronic_cash ). > "of course, [the Germans] attitudes toward currency must owe something to Germany’s tumultuous monetary history. During the Weimar-era hyperinflation that peaked in 1923 [...]" > "the German tendency to sett…

Debit card is pretty equivalent to cash, though. When my friends and family from my hometown (Istanbul) visit me the first time, they are usually quite shocked that most shops here do not accept credit cards at all. In Turkey (a place I call micro-USA), many credit cards automatically divide the payments for some transactions to 3+ months, whereas here in Germany, there's always some bureaucracy involved, even if you…

This sounds like the most fantastic way to get a literal wage slave.

Re: Why Germans pay cash for almost everything

#228

Post by taway_1212 »

herbst wrote: post #197
antouank wrote: post #171

Earlier quoted context omitted.

Say hello to contactless https://www.visa.co.uk/products/visa-contactless/ Standard on most bank cards in the UK. No pin or anything. Tap it on the machine and you go. Takes 2 seconds at most. Still, I do hold cash sometimes, you do need it in some cases.

It's super fun and easy. But A) there is a risk as everyone can create a stripe account and buy a charger. Personally I would never notice. B) every transaction creates costs. Some visible (depit charging fee) some hidden (credit transaction fee) C) At least in most of Europe it is far from widely supported, even thought it's growing for a while now. Except you stick to the most touristy places that is. In south east…

> A) there is a risk as everyone can create a stripe account and buy a charger. Personally I would never notice.

Personally, the convenience of: not having to wear a wallet at all (I just carry the card in my pocket) and not having to deal with coins, negotiate if I'm paying a big bill etc. is just amazing. Even if someone steals $10 from me once in a blue moon, it's well worth it.

Re: Why Germans pay cash for almost everything

#230

Post by herbst »

yxhuvud wrote: post #98
gehwartzen wrote: post #70

Earlier quoted context omitted.

When paying with cash you are also only exposed to the risk of loosing what you have on hand. A debit card is a bit more akin to handing over the key to the vault with a contractual agreement as to how much can be taken.

If you think that is a problem with debit cards you should go get a better bank.

If you think this. Or the dozen times credit card data have been stolen in mass from websites aren't a serious issue you should read more news.

I know I can charge back. But then I need to waste time to check all the charges and go through the charge back process.

Also depit cards. At least in Europe. AFAIK don't offer a easy charge back at all

Post reply on HN