64% of German citizens use financial apps. These apps are not only gaining popularity as a means of payment, but also for investing money. Block-Builders.net sheds light on the trend in a new infographic.
PayPal dominates the payment sector in Germany. 57% use the provider for mobile payments. Apple Pay (37%) and Google Pay (28%) follow in second and third place.
So far, the world of financial apps has been relatively fractured. Specifically, this means that people often use different apps for making payments than for buying shares, ETFs or cryptocurrencies, for example. For some this is not entirely satisfactory. After all, 28% of Germans would like to see a uniform and central finance app that brings many functions together in one place.
As the infographic shows, the proportion of people using cash is in steady decline. In 2022, just 72% said they had paid with cash within the last 12 months. Meanwhile, the opposite is true for the trend towards mobile payments, with services becoming more and more popular.
At the same time, studies show that Google search volumes for the terms “finance app” and “stock app” fluctuate quite strongly, while search volumes for “banking app” are much less volatile. Stock trading apps are likely to enjoy great popularity, especially when markets are heading in a positive direction.
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