Coins, smartphones, digital euro – how will we pay in the future?

Munich, 11 July 2025

Which payment options will shape the future? How secure and anonymous are the individual solutions? Which are particularly efficient and consumer-friendly? These questions were the starting point for a discussion on July 8, 2025, at ‘acatech am Dienstag’, moderated by Barbara Hepp from Evangelische Stadtakademie München.

Cash transactions still have a certain charm for many people: they are easy to carry out, anonymous, and quick to complete. According to the Deutsche Bundesbank (German Federal Bank), cash payments still account for about 51 per cent of all transactions in Germany. In times of crisis and inflation, the use of cash is even increasing worldwide.

From cash to card – and what comes next?

It is not surprising that the vast majority of Germans wish to be able to continue paying in cash in stores: This was reported by Sascha Straub (Department of Financial Services, Market Observation and Statistics at Verbraucherzentrale Bayern, the Bavarian Consumer Advice Center). Young people, on the other hand, are increasingly preferring cashless payment options such as smartphone apps or card payments. Regarding the variety of payment methods offered, retailers are increasingly questioning when the additional costs of cash payments will become a burden. It is primarily American payment service providers that benefit from card payments – and this is increasingly seen as a serious security risk for the European Payment Area, according to Sascha Straub. He advocated for European payment solutions.

Diverse, but dependent

Whether it is in the form of cash, contactless payments, the digital euro or cryptocurrencies – Peter Bofinger (Senior Professorship for Economics, Money and International Economic Relations, University of Würzburg) noted that there have never been so many different ways to pay for purchases as there are today. However, there is no Europe-wide payment platform that is independent of the USA or other external actors.

Is a new digital currency needed?

The European Central Bank is currently working on a new currency, the digital euro. However, Peter Bofinger doubts whether this is a good way to build a pan-European payment infrastructure. He stated that the additional expenditure outweighs any clear benefits for consumers compared to existing systems. It would be more promising to adopt solutions from other countries such as India, Brazil, or Switzerland, which offer privacy, security, and sovereignty.

The digital euro: offline and anonymous payments also possible

As a new legal means of payment, the digital euro provides the same benefits as cash, according to Raoul-Thomas Herborg (Managing Director Central Bank Digital Currency, Giesecke+Devrient GmbH). It would be a genuine relief in everyday life – a digital payment method that is generally accepted throughout the Eurozone, usable in stores, online, and between individuals, risk-free, free of charge, user-friendly, and requiring no contractual obligations to private (especially North American) payment service providers. A card reader does not necessarily have to have an internet connection during a payment transaction; money can also be transferred locally offline – even in a mountain hut. Standards such as Bluetooth or NFC make this possible. And anonymous payment options are also conceivable with this currency, for example with a ‘payment card’ that has been purchased with cash. The digital euro as an electronic form of cash for the digitized world could, in the opinion of Raoul-Thomas Herborg, serve as a potential flagship project for Europe that ensures greater sovereignty and resilience.