Competitor Profile: ELV
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Elektronisches Lastschriftverfahren (ELV) is an electronic direct debit system in Germany. Launched in the 1980s by a group of merchants, it accounted for 5.9% of the country’s non-cash transaction volume in 2018.
It is a popular payment solution in Germany for both in-store and online payments and is an alternative payment option for customers who do not like using credit cards online to pay for products or services.
In-store ELV payments are made using debit cards that contain the necessary bank details. The system allows retailers to initiate an automated direct debit transaction at the point of sale (POS) terminal, after which the amount is debited from the customer’s bank account.
ELV can also be used as a payment option by e-retailers. Payments are not authorized by issuing banks and merchants have to bear the risk of defaults.
ELV payments are accepted by most banks in Germany, as well as by a number of payment service providers (PSPs) including Worldpay, Stripe, Skrill, Wirecard, Alternative Payments, Ingenico, Adyen, PAYMILL, heidelpay, Computop, DusuPay, and Nuvei.
The report provides information and insights into ELV including –
– Detailed insight into its business
– Comprehensive coverage of its products and services
– Comparative assessment with key alternative payment solutions
– Information on its performance
– The company's important events and milestones
Scope
– In 1963, Traditional direct debit was introduced.
– In 1980s, ELV was introduced.
– In 2009, ELV Forum was formed.
– In 2016, ELV migrated to SEPA.
Reasons to Buy
– Gain insights into ELV's business operations and key events.
– Gain insights into its product portfolio.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Giropay
Worldpay
Stripe
Skrill
Wirecard
Ingenico
Adyen
Table of Contents
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