The time has come to liquidate the cash ? A study of FinTech on a number of countries has révél…

This study also reveals that Israel is the most precursor because it is here that one uses the apps mobile banking (50%) and wallet mobile (27%).

Download the free guide
Boost your gains

SAN FRANCISCO and COPENHAGEN – 28 JUNE 2017 – According to the report, 2016 KPMG ” the Pulse of Financial Technology (source), the venture capital investment sector, FinTech has never been as high, reaching $ 13.6 billion on 840 funding in 2016. While investment in FinTech has proved to be “high” in 2016, it is translated by a change of habits among consumers ? Today, in the salon Money 20/20 Europe, the venture capital company seed Blumberg Capital unveiled the results of its study conducted online by Harris Poll in France, Germany, Israel, United Kingdom and the United States. This study reveals that the FinTech gaining interest in Israel, who appears as a leader for its faculty adoption. Despite these investments and an adoption in progress, cash is still the preferred means of payment for most of these countries, especially Germany, where 75% of people are still using notes and coins at least once per week to make their purchases. Is it that we may one day happen to the cash ? To view this study, visit :

This study, which is interested in the way in which the technology in the financial services is used, depending on the country, reveals that, despite the impact of the wallet mobile, the loan person-to-person, commercial banks and mobile online cross-border all these countries audited, the wide adoption of new payment methods such as ApplePay® , PayPal and Venmo, all this new ecosystem has not yet conquered the majority of consumers and represents a huge opportunity for the sector.

This study shows a big growth opportunity for FinTech, as more and more consumers begin to realize the benefits of these technologies and feel ready to finally get rid of the cash and checks, ” said David Blumberg, founder and managing partner of Blumberg Capital. “This study shows that some people adopt with enthusiasm the products and services, FinTech, and others that satisfy the requirements of the means of transaction is more traditional. At Blumberg Capital, we believe that the adoption of new products and services FinTech overcomes differences according to demographic segments, and that the process will accelerate because of bigger banks and financial institutions work together with the young shoots FinTech to introduce these new types of products and services to the general public. We have invested in many startups that are at the center of the revolution FinTech and will continue to encourage this industry throughout its growth and evolution.”

Israel adopts willingly FinTech while cash is still king in Germany
The study indicates that Israel is the leader of the rapid adoption of FinTech. In this country, we use at least once per month apps mobile banking and wallet for mobile shopping. In addition, almost one Israeli in 10 declares to have used a service/funding loan alternative in the last 12 months. While many think that cash is a medium of payment archaic, this study reveals that it is still regularly used.
The Israelis are the most likely to use an app for mobile banking at least once per month (to verify their account, wire transfers or transfer money), or 50% compared to 38% in the USA, 37% in Uk, 35% in France and 28% in Germany
The Israelis are using more often than the French, the British and the American mobile apps to purchase products/services at least once per month (27% versus 21% French, 18% American, 17% British
7% of israelis have used financial services/loans alternative loan person-to-person loan on-line, rent-to-own) in the last 12 months
The Germans use cash at least once per week (75% compared with 64% of British, 58% of Americans, 48% of French and 47% of the Israelis

And the fraud ?
While cyber security continues to make headlines, the study shows a low level of interest in the cyber-risk in most of the audited countries, which is really surprising. In the report of Blumberg Capital “2017 State of Cybersecurity Report,” the study reveals an excessive trust in the knowledge of cyber security and safety despite the $ 15 billion stolen from 13.1 million Americans in 2015 in the United States (source). This lack of awareness of the risk of fraud would indicate that consumers tend to have confidence in the products and services they have selected, this would mean that the FinTech have the opportunity to educate new consumers on the security measures they have in place and explain why it is important.
The British, Americans and Israelis are more worried than the French and the Germans to be the victims of fraud (being scammed, they are stealing their identity, their bank account) when they make bank transactions on-line (43%, 39%,38% versus 31% and 23%)

Nationalism against globalization : is it that the transactions cross borders ?
The study also examined the monthly frequency of online purchases cross-border consumers. Once again, the Israelis are the most likely to perform this kind of transaction, this could reflect a limited choice of products available in the country compared to other countries or the acceptance and adoption of more massive FinTech and e-commerce internationally. In addition, the persons being audited on the costs of cross-border transactions, have indicated that they anticipate an increase in the tariff on this type of purchases in the future, notably in the United Kingdom. This belief could be related to the Brexit. The study indicates that :
The Israelis have no problem to make online purchases outside their country at least once per month (44% vs. 17% of French, 14% of Germans, 13% of British and 9% of Americans)
21% of Brits believe that online purchases outside of their country are going to be more expensive (increase in the price of goods/services and/or additional taxes) in the future. (compared to 16% of Americans, 14% of German,11% French and 9% of the Israelis).

This study was conducted online by Harris Poll for the account of Blumberg Capital from 16 to 22 may 2017 with 2 166 American, 1046 German, 1048 French, 1050 British and 550 Israelis over the age of 18. This study in-line is not based on a probability sampling and therefore no estimate of a estimates of theoretical sampling error can be made. More information on the results of the study and its methodology, please contact :

About Blumberg Capital
Blumberg Capital is a venture capital company seed partners with passionate entrepreneurs to innovate and build technology companies that are performing well. The company is specialized in the phases of seed and start-up, where she works in collaboration with angel investors, other venture capital firms and strategic partners. The team of Blumberg Capital is composed of active investors and members of board of directors, functioning as an extension of the network of entrepreneurs. Blumberg Capital is headquartered in San Francisco with employees in Tel Aviv and New York. More information, visit :

Download the free guide
Boost your gains

Like this post? Please share to your friends:
Leave a Reply