Germany Cards and Payments – Opportunities and Risks to 2027

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Germany Cards and Payments Market Report Overview

The annual value of card transactions in the German cards and payments market was $593.5 billion in 2023. The rising adoption of contactless cards, the proliferation of digital-only banks, the emergence of alternative payment solutions, and growth in the e-commerce space will propel the German cards and payments market growth at a CAGR of more than 8% during 2023-2027.

Germany Card Transactions Outlook, 2023-2027 ($ Billion)

Germany Card Transactions Outlook, 2023-2027 ($ Billion)

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The Germany cards and payments market research report provides a detailed analysis of market trends influencing the industry. It provides transaction values and volumes for several payment instruments for the review period. In addition, the German cards and payments market analysis offers information on the country’s competitive landscape, including market shares of issuers and schemes. The report also entails regulatory policy details and provides extensive coverage of any recent changes in the regulatory structure.

Annual Value of Card Transactions (2023) $593.5 billion
CAGR (2023-2027) >8%
Forecast Period 2023-2027
Historical Period 2019-2022
Key Payment Instruments ·        Cards

·        Cash

·        Credit Transfers

·        Direct Debits

·        Cheques

Key Segments ·        Card-Based Payments

·        Merchant Acquiring

·        E-commerce Payments

·        In-store Payments

·        Buy Now Pay Later (BNPL)

·        Mobile Payments

Leading Players ·        DSGV

·        BVR

·        Deutsche Bank

·        Commerzbank

·        ING Bank

·        Landesbank

·        Credit Mutuel

·        UniCredit Bank

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Germany Cards and Payments Market Dynamics

Cash remains the preferred method of consumer payment in Germany, although consumers are increasingly adopting payment cards. The convenience of electronic payments, improving payment infrastructure, the increasing preference for contactless payments, and e-commerce growth are the factors driving the usage of payment cards in the country. Debit cards are the most popular card type and are increasingly being used for payments. Although the use of credit cards is low, mostly due to the debt-averse nature of German consumers, issuers are pushing adoption and usage by offering value-added benefits such as installment facilities, reward points, and discounts.

Besides cards, customers are also embracing mobile-based payments and other innovative payment options such as self-checkout stores and wearable payment devices. In addition, the COVID-19 pandemic has strengthened the shift toward cashless methods of payment.

Furthermore, the swift development of payment infrastructure, coupled with growing smartphone and internet penetration, has aided the country’s e-commerce sector.

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Germany Cards and Payments Market Segmentation by Payment Instruments

Cash remained the preferred method of consumer payment in Germany in 2023.

The key payment instruments in the German cards and payments market are cash, mobile wallets, credit transfers, cards, direct debits, and cheques. Cash accounted for over 30% of the country’s total transaction volume in 2023e. However, with the increasing use of digital payments (especially among younger individuals), cash usage will continue to decline going forward.

The use of payment cards is accelerating in Germany, supported by high bank account penetration and initiatives taken by the government and banks to promote electronic payments.

Germany Cards and Payments Market Analysis by Payment Instruments (Volume Terms), 2023 (%)

Germany Cards and Payments Market Analysis by Payment Instruments (Volume Terms), 2023 (%)

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Germany Cards and Payments Market Segments

Visa emerged as the main player in the Germany credit and charge card market

The key segments in the Germany cards and payments market are card-based payments, merchant acquiring, e-commerce payments, in-store payments, and buy now pay later (BNPL) among others.

Card-Based Payments: The EU-wide interchange fee regulation, contactless payment growth, the emergence of digital-only banks, and a strong e-commerce market have led to a gradual increase in payment card usage.

German consumers are typically averse to debt, which is reflected in the low use of credit cards in the country. However, credit cards will register strong growth over the forecast period as banks have started offering value-added benefits in the form of installment payment facilities, cashback, and discounts.

Germany’s credit and charge card market is dominated by Visa and Mastercard, which collectively accounted for around 91% of total credit and charge card transaction value in 2023e. To increase credit card penetration, banks target specific customer segments. For instance, Deutsche Bank’s Mastercard Platin provides comprehensive insurance, Priority Pass access to airport lounges, and a concierge service. Co-branded credit cards are also getting popular as in the case of DKB Bank’s Lufthansa Miles & More Mastercard Gold credit card, which allows holders to earn bonus miles with Lufthansa Airlines on purchases made using the card.

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Germany Cards and Payments Market - Competitive Landscape

A few of the leading players in the Germany cards and payments market are:

  • DSGV
  • BVR
  • Deutsche Bank
  • Commerzbank
  • ING Bank
  • Landesbank
  • Credit Mutuel
  • UniCredit Bank

Deutscher Sparkassen- und Giroverband (DSGV): DSGV is the umbrella organization of the Sparkassen-Finanzgruppe. It represents the collective interests of Germany’s savings banks (the Sparkassen). DSGV leads the debit card market in the country.

Leading Germany Cards and Payments Players, 2023

Leading Germany Cards and Payments Players, 2023

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Germany Cards and Payments Market – Latest Developments

  • In December 2023, Sparkasse Elbe-Elster Bank integrated Wero, a mobile wallet solution into its banking app, offering instant account-to-account P2P transactions.
  • In November 2022, cross-border money transfer provider Western Union launched its digital-only banking service in Germany, Poland, and Romania.

Segments Covered in the Report

Germany Cards and Payments Instruments Outlook (Value, $ Billion, 2019-2027)

  • Cash
  • Credit transfers
  • Cards
  • Direct debits
  • Cheques

Germany Cards and Payments Market Segments Outlook (Value, $ Billion, 2019-2027)

  • Card-Based Payments
  • Merchant Acquiring
  • E-commerce Payments
  • In-store Payments
  • Buy Now Pay Later
  • Mobile Payments

Scope

This report provides:

  • Current and forecast values for each market in the German cards and payments industry including debit and credit cards.
  • Detailed insights into payment instruments, including cards, credit transfers, cheques, and direct debits. It also includes an overview of the country’s key alternative payment instruments.
  • E-commerce market analysis.
  • Analysis of various market drivers and regulations governing the German cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Germany cards and payments industry.

Reasons to Buy

  • Make strategic business decisions, using top-level historical and forecast market data, related to the German cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Germany cards and payments industry.
  • Assess the competitive dynamics in the Germany cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Germany.
  • Gain insights into key regulations governing the Germany cards and payments industry.

DSGV
BVR
Deutsche Bank
Commerzbank
ING Bank
Landesbank
Credit Mutuel
UniCredit Bank
Santander
Diners Club
American Express
JCB
TPN
girocard
Visa
Mastercard.

Table of Contents

Market Overview

Payment Instruments

Card-Based Payments

Merchant Acquiring

Ecommerce Payments

In-Store Payments

Buy Now Pay Later

Mobile Payments

P2P Payments

Bill Payments

Alternative Payments

Payment Innovations

Job Analysis

Payment Infrastructure and Regulation

Appendix

Frequently asked questions

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