The Visa logo of a credit card is seen in front of the logo of online payment system Paypal. (picture alliance/dpa/archive)
New payment systems, loans and insurances on the internet or interest rate portals for overnight money comparison: according to a study, many consumers in Germany are now more open to the services offered by financial start-ups than three years ago. According to the study, the awareness of some "fintechs" has clearly risen, while more respondents recognize a personal benefit in the service provided by these companies. This is the result of a survey published on Tuesday by market researcher Yougov of almost 2,000 people.
In the study, for example, more respondents than in 2016 stated that they could benefit from the new digital services, and that they thought they were innovative and focused on consumer benefits. At the same time, more than 60 percent were of the opinion that the offers were opaque, not sufficiently regulated and made the financial market even more confusing.
In concrete terms, the Apple Pay payment service is a household name to almost a third of respondents – back in 2016 it was 12 percent. Meanwhile, the popularity of Google Pay has almost tripled from 13 to 38 percent. Google introduced its payment service in Germany in June 2018, while Apple followed suit in December of that year. The leader in payment services remained Paypal with 82 percent awareness.
Awareness of credit brokers and start-ups for financial investments had also increased. In particular of the credit portal Auxmoney, the interest portal Weltsparen and the money lender Smava. The figures for the awareness of insurance providers were virtually unchanged.
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