According to a current survey by Bitkom, Germany's digital association, two-thirds of Germans are quite often annoyed that cashless payments are not yet possible everywhere in Germany, a result which clearly shows that the country's population is well on the way to losing its fear of cashless payments.
A wide array of new cashless payment methods has become available in the past years, adding to the traditional bank transfer, direct debit or card payment. The aforementioned technologies are becoming increasingly popular; in fact, payment methods are becoming more and more an expression of a person's individuality. While the paying party benefits from this variety, the complexity increases for service providers, who have to enable a growing number of payment methods, integrating them into their systems whilst avoiding conflicts. The supposedly boring topic of 'payment transactions' has become highly dynamic and challenging for many companies.
Payment diversity as an opportunity for the housing industry
This also applies to the housing industry: according to a representative online survey by Aareal Bank, most tenants still pay their rent via direct debit or bank transfer. A substantial number of tenants even pay in cash. However, surveys show that more and more tenants now prefer innovative payment methods. One can therefore assume that the broad range of different payment methods should also prevail in the housing industry in the coming years.