The study shows that cash is still the fastest form of Payment. Only 22.3 seconds of the payment process lasted during the observation period on average. Behind the card, followed by payment with a Pin with 29.4 seconds, and with the signature of 38.6 seconds.
But back to the study. Here the authors come to the conclusion that generally speaking, cash is the cheapest Payment option and also because it is the fastest.
The cost in the Overview:
cash: 24 cents
Girocard: 33 cents
direct debit: 34 cents
credit card PIN: 97 cents
credit card with signature: € 1.04.
Why is this important? Unlike in Internet stores charge no fees for certain types of payment, nevertheless, you have to beat the cost on their prices.
However, there is a caveat, says Bundesbank Executive Board member Johannes Beermann: There are significant differences, depending on whether you look at the cost per transaction or the revenue relates.“ Display Now free credit cards for card scout to compare!
primarily Because of the small amounts of money, like the bread at the Baker’s, see the bar be paid to the cost as a percentage of the sales seen:
cash: 1.8 percent of sales
credit cards with signature: 1,82%
credit cards with PIN: 1.7%
direct debit: 0.97 percent
we Should pay all only with a debit Card? No, says the Bundesbank. Because it is anticipated that all revenues will be paid only with a means of payment, gaining back the cash.
we Would pay for all the purchases only bar, would the cost then be as follows:
cash: 1.12 percentage of sales
Girocard: 1.14 percent.
credit card with Pin: 2.26%
credit card with signature: 2.52 percent
However, the the state by 2017. In just 2 years, a lot has happened: Many of the cards can now be used for contactless payment via NFC chip. And that is likely to be significantly faster, since the amounts under 25 euros without a Pin or signature settled. In addition, Apple and Google are pushing their paid apps for mobile phones and Smartwatches on the market that allow customers to pay larger amounts via NFC – authorized with a fingerprint.
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