BERLIN (dpa-AFX) – The Federal Association of German Money and Value Services (BDGW) fears a gradual abolition of payments with notes and coins. “We need guidelines for the credit industry so that consumers can also access cash in the long term,” said BDGW chairman Michael Mewes on Monday. There are fewer and fewer bank branches and fewer ATMs, and consumers cannot withdraw cash from shops everywhere. At the same time, retailers must be obliged to accept notes and coins. Because there are people who, for various reasons, cannot pay with cards.
“We demand fair competition with other means of payment and want to ensure that cash remains usable in the long term at competitive conditions,” said Mewes. Among other things, the industry earns money with transport and services related to cash. In the opinion of the association, electronic systems alone cannot guarantee the necessary security in payment transactions. Recently, customers were unable to pay with a giro, credit or debit card at some retailers for days after a software glitch.
/mar/DP/ngu