Glossary: The "what is what" in the world of cards
Frankfurt am Main, October 26, 2023: " card, please" is what customers often say when paying at the checkout. But what types of cards are there and how do they differ? As convenient, fast, and secure as card payments are, many people find it difficult to navigate the jungle of terms. Whether it's a girocard, debit card,card credit card—there are a few differences you need to know to find your way around. We provide a brief overview of the most important terms.
Debit card:
Payments made with debit cards are debited immediately after the purchase or cash withdrawal at an ATM (debit means to deduct). Each payment is therefore visible individually in online banking or on the current account statement. Consumers usually receive a debit card automatically with their current account. The best-known and by far the most frequently used payment card is girocard, the debit card issued by German banks and Sparkassen. Other debit cards include Debit Mastercard and Visa Debit.
girocard:
It is the independent payment system of the German banking industry and is often stillcard ascard . Customers can use it to make payments at more than 1 million terminals in retail sector, in restaurants, at gas stations, in public administration, and in many other places, as well as to withdraw money from ATMs. Payments and cash withdrawals together form the girocard system. Since girocard is girocard debit card, the cardholder's checking account is debited immediately or within a very short time after the purchase. In addition, girocard offers girocard additional functions, such as age verification, which allows customers to securely prove their age when purchasing age-restricted products, especially at ATMs.
Co-badge:
A payment card can have several payment functions, similar to different apps on a smartphone. girocard usually feature girocard or function from a different payment provider. This additional function is called a "co-badge." It kicks in when the girocard system cannot execute the payment. This is often the case with payments abroad, for example. The co-badge function therefore allows the card to be used outside the girocard system, for example on vacation or on business trips. Possible co-badges on girocard Debit Mastercard, V Pay, or Visa Debit.
Maestro:
Until recently, many banks and Sparkassen issued girocards with the Maestro acceptance symbol as a co-badge. However, the issuing of new cards with the Maestro function generally ended on June 30, 2023. In practice, this does not change anything for customers. Until their respective expiration date, girocards with a Maestro badge can be used as usual in Germany and abroad. After that, the card will be replaced with a new solution. As a rule, this is a girocard with a different co-badge.
card:
Whencard today, they usually girocard . That was girocard until the Germany Banking Industry Committee girocard the name and logo girocard the Germany Banking Industry Committee 2007. The aim of this renaming was to create a uniform umbrella brand for the electronic cash system and the German ATM system.
Credit card:
Their distinctive feature is that the account is not debited until a later date. For example, by debiting the amount from the linked current account. In Germany, so-called charge credit cards are particularly common. The card company, such as Mastercard, Visa or American Express, collects the transactions on the credit card account and debits them in full from the current account, usually once a month. This results in a short-term deferral of payment. There are also credit cards that are "topped up" before use (prepaid credit cards) or credit cards where cardholders pay the total amount in installments.
In case of queries, the banks and Sparkassen will provide information about their usual account models and the types of cards issued.
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girocard service release
girocard press photo service release
About girocard:
The girocard brand represents the German banking industry's umbrella organization for its two proven debit card payment systems: the girocard system (formerly "electronic cash") as a debit card payment system 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 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 / Jessika Henke
Communication and Marketing
Tel.: +49 (0)69 / 97945-4853
Fax: +49 (0)69 / 97945-4847
presse@eurokartensysteme.de
