High potential for mobile payment in Germany?

The results of our comprehensive mobile payment report reveal that mobile payment has potential in Germany: Over half of all respondents already use or intend to use mobile payment (55%). At the same time, the majority of the survey participants also confirm that they are satisfied with the existing payment methods and need no mobile payment. These opinions point at the strong competition in the market for payment solutions, with cash still being the preferred payment method and a multitude of other payment options. In fact, Germany has a very fragmented mobile payment market that has seen many initiatives coming and going. Several technologies required for mobile payment are available for use, but no standard has been established. Such fragmentation only leaves consumers confused and unwilling to change their payment behavior to adopt mobile payment.

Source: PwC