Medical experts and major banks around the world ascertained long ago that cash does not transmit diseases. Nonetheless, when the pandemic struck, many shops began asking customers for cashless payment. A survey conducted by the European Central Bank (ECB) confirms that card and contactless payments have increased across Europe since the pandemic began. More than 40 % of respondents reported using cash less frequently to pay for their shopping since the spring of 2020 – and 90 % have no intention of reverting to their old habits once the crisis is over.
The decline and fall of cash has been written in the stars for several years. Nonetheless, cash is still very popular in Germany. Quite apart from being medically safe, it’s the only method of payment that can be defined as truly democratic, since anyone and everyone can access it and use it. But that’s not all.
The advantages of cash include:
- Cash is a safe method of payment.
- Cash can be used everywhere. It always “works” and doesn’t rely on technology.
- Cash can be used independently of status. It allows everyone to engage in financial and social interactions – even if they don’t have a bank account.
- Cash protects your privacy and your personal data.
- Cash prevents big companies from spying on your buying habits.
- Cash is tangible, which makes it easier to understand and grasp.
- Cash is popular and is a legally acceptable form of payment throughout Germany.
Key focus at CashCon 2021: the evolution and importance of cash
Back in 2020, CashCon – a business convention for the cash industry – explored trends and changes in payment methods. Their conclusion: even though digital payment methods and credit cards are on the increase, cash is still one of the most popular modes of payment in Germany. Furthermore, consumers consider it to be the safest payment method. This year, the focus of CashCon was once again on cash in modern-day contexts. One of the speakers at the convention, which was held on 27 and 28 January, was DEBATIN’s CEO Thomas Rose. For many years, DEBATIN has observed the slow and steady decline of cash. It’s a trend that requires our attention because it affects, for example, our entire DEBASAFE® range. “The COVID-19 pandemic has caused people to use cash less often,” confirms Thomas Rose, who attributes this development to the various calls and measures to restrict or even wholly eliminate the use of cash and encourage people to use cashless alternatives.
Founding the “Cash counts!” initiative
At present, cash is an established method of payment and it’s impossible to imagine life without it. Nonetheless, cashless payment methods are likely to continue increasing in coming years. This trend – and the challenges it entails – prompted various market players to found the “Cash counts!” initiative following CashCon 2020. DEBATIN has supported this initiative from the start. The aim is to ensure cash remains politically acceptable, available and accessible. “We need to point out the impact and implications if cash were no longer universally accepted as a method of payment,” explains Thomas Rose.
Making cash handling easier with individual safe bag solutions for safe deposit boxes
All in all, cash is still extremely popular in Germany. The majority still prefer to use cash for small purchases.
Consequently, retailers such as bakeries, butchers and supermarkets all continue to accept cash payments. As a result, they are involved in the cash cycle – and are increasingly turning to automatic cash management processes and systems.
DEBATIN’s DEBASAFE® autocash safe bag solutions consist of custom individual security bags that can be hung in deposit safes and sealed whilst still inside. This means that cash from the tills is siphoned off safely, quickly and efficiently, remains within a closed system, and cannot be accessed by unauthorised persons. Money is collected in the safe bags, stacked neatly and safely in the safe such that the piles cannot slip out of place, and locked away securely, thus minimising subsequent processing steps and saving even more time and money.
DEBASAFE® autocash for your cash management processes
Are you looking for a solution to store your daily takings safely and efficiently, and/or do you work with a deposit safe or automatic cash management system? Thanks to our versatile range of safe bag solutions, special perforations and different types of closures and materials, we can offer a wide selection of secure and reliable DEBASAFE® autocash safe bags to match your exact requirements. Find the right solution for your processes and your market – we also offer eco-friendly alternatives! If you need a customised solution, call us. We look forward to hearing from you!
You can contact the DEBATIN sales team by phone on +49 7251 8009 100 or send an email to vertrieb@debatin.de.
We’ll be very happy to advise you and provide you with a personal quote!
