People have become accustomed to the convenience of electronic payment: according to a survey by the EHI Retail Institute, the share of card payments rose to 59.7 percent of brick-and-mortar retail sales in 2022, more than 22 percentage points ahead of cash. With a 41.9 percent share of sales, girocard was girocard in first place among all payment methods, ahead of cash.
This is also confirmed by Horst Rüter, member of the management board and payment expert at the EHI Retail Institute: "There are no signs of a trend reversal back to more cash." He presented the results of this year's study in Bonn on May 10, 2023.
Against this backdrop, we let three voices from the German banking industry have their say: Dr. Andreas Martin, Member of the Board of the Federal Association of German Raiffeisenbanken , Oliver Hommel, Chairman of the Management Board of EURO Kartensysteme GmbH, and Ingo Limburg, Director of Communications and Marketing.
Dr. Andreas Martin: " girocard a lot of speculation recently about the end girocard , but these discussions have now rightly died down again. The facts tell a different story: girocard and remains a central element of the card strategy in the German banking industry – for cooperative banks, Sparkassen many other institutions in Germany, it is one of the main features of an account. To ensure that this remains the case, the Germany Banking Industry Committee retail sector network provider girocard aregirocard leading the way into the future, because girocard on what we all make of it. Our roadmap to girocard 4.0 charts a clear path to ensure that it remains the most popular payment method the wallets of people in Germany tomorrow.
With girocard , consumers, the retail sector German banks and Sparkassen girocard strong, proprietary, and independent payment system that makes an important contribution to sustainable sovereignty in this crucial area of infrastructure. As the Germany Banking Industry Committee , we the Germany Banking Industry Committee jointly advocating for this solution—also in the European context.
Oliver Hommel: "In brick-and-mortar retail girocard far the most popular payment method. It is the favorite of retailers, including small merchants, because it is fair, cost-efficient, and secure. In addition, the retail sector benefits retail sector its widespread use—almost everyone in this country has at least one in their wallet, and it is used frequently, as figures from the German Banking Industry Committee show.
6.7 billion payment transactions in 2022 speak for themselves. In addition, there were more than 1 million active terminals for the first time—an increase of 7.5 percent over the previous year. Up to 200,000 payment points girocard exclusively. The strong commitment of the retail sector provides a good basis for the future.
In the future, girocard continuously expanded with market-oriented functionalities: new areas of acceptance will be developed and innovations brought to market. We are working on development and implementation together with the banking industry, retail sector network operators.
This year, we want to complete all the preparatory work for the first major step, which will then allow card issuers and acceptance partners to roll out the corresponding services from 2024. Online age verification with physical and digital cards at vending machines and at the POS will already be piloted this year with around 80% of all cards in circulation. This illustrates the high standards we have set for the project and the rapid development cycles described therein."
Ingo Limburg: "The widespread use girocard over 100 million cards issued, makes innovations immediately suitable for the mass market. This is the case with contactless payment, for example: according to statistics from the German Banking Industry Committee, 79.0 percent of all girocard transactions were contactless at the end of 2022.
We are working intensively to continuously improve and expand the possibilities for using girocard e-commerce in the future. Sparkassen can already use their digital girocard in Apple Pay and make online purchases with it. Those who own an Android smartphone can pay with the digital girocard in giropay. Payment with girocard via giropay will initially beRaiffeisenbanken customers of Sparkassen Volksbanken Raiffeisenbanken .
We are also working on integrating girocard into other wallets so that it can be used for both in-store and online transactions.
The basic idea is to expand the options girocard using girocard to make convenient and secure payments within smartphone apps girocard a variety of ways. And all experience to date shows that customers are girocard keen to use the new girocard innovations.
The conclusion of the event: The retail sector girocard an anchor in the market. It provides reassurance that it will remain independent of international providers and is particularly cost-efficient for all parties involved. This is not the only reason why its value should be preserved. the Germany Banking Industry Committee is working on this the Germany Banking Industry Committee with other market participants. This is something that makes girocard .
