Support your favorite store during Christmas shopping
Frankfurt am Main, December 4, 2024: It's that time of year again: fairy lights stretch across pedestrian zones and shop windows are lovingly decorated for Christmas – in the run-up to Christmas, people are drawn to city centers. They treat themselves to something new or are looking for gifts for their loved ones. At the checkout, they are increasingly pulling out a card instead of paying with coins and bills. What many end customers don't know is that, depending on the payment method, their favorite stores have to pay higher costs for processing purchases. Cash, debit card, or credit card – what pays off retail sector for the retail sector ?
Whether it's a stylish sweater, pretty tableware, or a lovely perfume, last year card exceed €300 billion for the first time—accounting for 61.8 percent, or almost two-thirds, of total sales (source: EHI study 2023). The clear trend toward card payments poses a challenge for retailers, small businesses, and restaurants: on the one hand, they are faced with rising transaction costs for cashless payment options, but on the other hand, they want to continue to offer their customers the most popular payment option at the checkout, especially at a time when price pressure is already increasing due to online shopping. However, if transaction costs increase, this reduces profits.
"The retail sector between the wishes of its customers and its own interests. In this respect, girocard is girocard good choice, as it charges the lowest fees and is also very popular with customers," explains Ulrich Binnebößel, Head of payment services Logistics at the German Retail Association (HDE). The debit card issued by German banks and Sparkassen numerous advantages for retail companies: lower costs compared to the competition, the widest distribution among customers, and very high levels of trust and security.
What if? Study calculates impact of girocard German retail sector
The results of the multidimensional study "Added value girocard payment services " payment services CFin – Research Center for Financial Services on behalf of EURO Kartensysteme confirm the special role that girocard plays girocard an independent payment system: If girocard electronic direct debit (ELV for short) were to be replaced by international debit cards—a scenario we are familiar with from other European countries without their own payment systems—payment transaction costs could rise by 50 percent. For an average company, this would mean additional costs of several thousand euros per year.
The study also shows that more than three-quarters of respondents would be willing to choose a payment method that benefits retailers. However, there is a knowledge gap among consumers, as two-thirds think that cash is the cheapest payment method. If awareness of this can be raised, customers can easily support their favorite stores at the checkout by girocard with girocard .
About girocard:
The "girocard" brand stands for the overarching framework of the German banking industry: the girocard procedure as a debit card payment method and the "German ATM system." By using a personal identification number (PIN) the Germany Banking Industry Committee guarantees the secure and easy use girocard. The name and logo girocard were introduced by the German Banking Industry Committee in 2007.
About EURO Kartensysteme:
As a joint venture of the German banking industry, EURO Kartensysteme GmbH performs tasks in the common interest of German banks and Sparkassen the area of card-based payment services. As scheme manager, EURO Kartensysteme GmbH bundles core competencies in the girocard system. Its tasks include product management, sales, and scheme administration, as well as communication and marketing for girocard. The company's range of services also includes the development of operational security standards and methods for combating fraud, as well as Mastercard license management.
Contact:
EURO Kartensysteme GmbH
Lisa Werner / Jessica Henke
Communication and Marketing
Tel.: +49 (0)69 / 97945-4853
Fax: +49 (0)69 / 97945-4847
presse@eurokartensysteme.de
Public. Agentur für Kommunikation GmbH
Jasmin Hornung
Consulting
Tel.: +49 (0)621 / 9636-0023
j.hornung@agentur-publik.de
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girocard press photo service announcement
girocard service announcement
You are welcome to use the image provided for communication purposes girocard to girocard all media within Europe free of charge until July 18, 2031.
Image source: EURO Kartensysteme GmbH, Alexander Habermehl
