Market Research Report
The Cards and Payments Industry in Germany: Emerging Trends and Opportunities to 2021
|Published by||GlobalData||Product code||339521|
|Published||Content info||67 Pages
|The Cards and Payments Industry in Germany: Emerging Trends and Opportunities to 2021|
|Published: March 9, 2017||Content info: 67 Pages||
GlobalData's "The Cards and Payments Industry in Germany: Emerging Trends and Opportunities to 2021" report provides top-level market analysis, information and insights into the German cards and payments industry, including -
This report provides detailed analysis of market trends in the German cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debits, check payments, payment cards and cash transactions during the review period (2012-2016).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2017-2021). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together GlobalData's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.
To increase financial access to the under and unbanked populations, Bafin - the banking and financial services regulator - announced mandatory free basic accounts to all Germans as part of the new Payment Account Acts (Zahlungskontengesetz - ZKG) in 2016. Under the terms, basic accounts must be provided to all citizens including those with no permanent address, asylum seekers and those without a permit of residence. All accountholders will be offered basic functionality including a payment card, credit transfer facilities and the ability to pay direct debits.
To offer secured and convenient online payments, German Savings Banks Association (DSGV) launched its own online payment solution, Paydirekt in November 2015. It allows customers of participating banks to pay for online purchases directly from their checking accounts, thereby eliminating the need for any third-party payment processors.
The emergence of digital-banks is likely to accelerate the shift away from cash. Telecom service provider Telefonica Deutschland partnered with Fidor Bank to launch a mobile-only bank in July 2016. Customers using the O2 banking app can conduct transactions such as P2P transfers and apply for loans. Upon opening of the account, customers receive Mastercard debit card. Other mobile-only banks such as N26 and Fidor Bank are active in the German market.