girocard generates decisive economic advantages
Frankfurt am Main, August 16, 2023: As a proprietary, nationally optimized payment system, girocard decisive economic advantages for acceptance points, end customers, and the Germany Banking Industry Committee this is the conclusion of a recent multidimensional scientific study conducted by the CFIN Research Center for Financial Services at Steinbeis University on behalf of EURO Kartensysteme GmbH. The survey is based on a representative sample of 2,000 private individuals, a structured survey of 300 retail companies, and qualitative interviews with more than 10 banking and payment experts, conducted in the first half of 2023. Study director Professor Dr. Jens Kleine summarizes the results: "The retail sector benefits from a secure and reliable payment method that is widely used and very cost-effective compared to the competition. For end customers, paying at the point of sale and the ability to withdraw cash are the most important functions of a payment card. girocard offers this girocard is the cost-effective method of choice at most points of contact – supplemented by other solutions online and internationally. For the credit industry, the girocard system represents an important source of revenue in the card business and is the basis for a comprehensive and self-determined payment and cash infrastructure." Oliver Hommel, CEO of EURO Kartensysteme, adds: "With this study, we demonstrate the decisive economic advantages of the local girocard payment system and are able to comprehensively qualify and, in some cases, quantify them for the first time."
German retailers recognize the financial benefits of girocard
Costs, customer acceptance, trustworthiness, and security are the core elements of girocard product success girocard brick-and-mortar retail. The study determines average, sales-dependent fee ranges for girocard payment methods, international debit and credit cards, and the SEPA direct debit procedure. For girocard approx. 0.19 to 0.31 percent), this is significantly lower than for international card solutions (international debit cards approx. 0.37 to 0.60 percent, international credit cards approx. 0.72 to 1.39 percent). Based on the margins determined, a second step simulated how costs would develop if the market shares of the payment systems shifted (significantly). Compared to the status quo, payment transaction costs for retailers could rise by 50 percent if international solutions girocard . For an average company, this would amount to several thousand euros per year. For the entire retail sector in Germany, the additional costs could amount to several hundred million euros per year. Other acceptance points (e.g., restaurants, services) would be added, which would increase the overall economic impact accordingly.
Customers want a card low fees and widespread merchant acceptance
When asked about the decisive factors for choosing a payment card, customers cited the cost of a card product, (wide) card acceptance, and the option of cash withdrawals as the most important criteria. 83 percent of respondents expressed (very) high girocard . When asked about the most important function of a payment card, two-thirds of customers chose payment at the point of sale (POS) in Germany, followed by ATM withdrawals (16 percent). Card payments abroad and online payment capabilities were ranked next.
girocard particularly attractive for banks from an economic perspective
"Where banks and Sparkassen deal Sparkassen with facts and figures, they come to the conclusion that girocard is a particularly attractive product in girocard issuing, i.e., card issuance, and acquiring, i.e., merchant business," says Professor Dr. Kleine, commenting on the findings from discussions with the institutions. Payment transaction experts from major banks, Sparkassen, cooperative banks, and direct banks, among others, attach immense value to their own sovereign payment system. The girocard system is efficient and attractive for all parties involved because it has a corresponding market share.
girocard important for Germany
"The existence of the German banking industry's girocard system is an important economic factor. It creates balance in the market and added value for all parties involved," says Professor Kleine, summarizing his view of the results. "However, this added value can only be realized in the future if girocard continuously girocard to market requirements and can also compete on an equal footing with competing systems in terms of functionality." Oliver Hommel comments: "We see this as confirmation of the key points we have identified in our future strategy 'girocard 4.0'. We will improve girocard that it remains the optimal payment solution for customers, retail sector the banking industry in the long term, thus maintaining its economic added value for all stakeholders in Germany and Europe. The long-term goal and vision must be that there will no longer be any significant payment situations in Germany where customers and acceptance partners are forced to switch to a competing system."
More results of the study can be found in the exposé.
About girocard:
Banks and Sparkassen Germany have issued around 100 million girocards. The "girocard" brand represents the overarching framework of the German banking industry for its two proven debit card payment systems: the girocard procedure (formerly "electronic cash") as a debit card payment method and the "German ATM system." By using a personal identification number (PIN), the Germany Banking Industry Committee guarantees that girocard can the Germany Banking Industry Committee be used securely and easily. The name and logo girocard were introduced by the German banking industry 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 marketing and PR 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
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girocard exposé Steinbeis study
