BERLIN: Many young consumers in Germany would be willing to use their mobile phone as a virtual "wallet", a new study has found.

BITKOM, the trade body, surveyed a representative sample of people, and revealed 43% displayed an enthusiasm for utilising wireless handsets to make payments.

Figures reached 75% among 14-29 year olds, including 55% suggesting this constitutes a good way to acquire public transport tickets and 41% concerning meeting parking charges.

Elsewhere, 24% of the panel believed such an approach could be helpful when obtaining tickets for events, hitting 40% for 14-29 year olds.

But only 19% of respondents agreed completing transactions anywhere they currently employ credit or debit cards via a portable device was appealing.

Overall, men are more positive about making mobile payments than women, with scores of 47% and 40% respectively.

While "cashless" models are a real possibility given the user-friendly interface and processing power offered by smartphones, retailers and service providers have been comparatively slow to adapt.

"Many people want to comfortably pay by phone, but in practice there are still too few opportunities," said Dr August-Wilhelm Scheer, president of BITKOM.

"Even banks without their own branch and ATM network can provide customers with mobile-payment and additional services. They are still catching up."

Data sourced from BITKOM; additional content by Warc staff