Frankfurt am Main, 01.06.2023: Many customers in Germany have a girocard that also bears the Maestro logo. The issue of new cards with this additional function will now end on June 30. What does this mean for those who currently have a girocard with the Maestro function?
For cardholders, everything generally remains the same, as girocard —with over 100 million cards issued— girocard the most widely used card payment method in Germany and will continue to be accepted at all existing merchant locations and ATMs. The Maestro system has often been included as an additional acceptance logo on bank and savings bank cards and enables payments abroad. Even after Maestro is phased out, customers will still be able to use their familiar girocard to make payments and withdraw cash—even abroad. This is because other acceptance logos will typically appear on the card in place of the Maestro symbol.
Banks and Sparkassen offer a solution
Mastercard announced at the end of 2021 that it would gradually phase out the Maestro function. Starting July 1, 2023, no new bank or savings bank cards may be issued with this additional function. Cards already issued will remain valid and will continue to work both domestically and abroad. Since most cards in Germany have a four-year term, the last girocards featuring the Maestro co-badge will expire at the end of 2027. Anyone who currently card such a card will receive a new one at the latest when their card is due for replacement and can continue to card their card as usual until then.
As a rule, banks and Sparkassen that previously provided their girocard with the Maestro logo combine it with another co-badge. The most common alternative additional functions are the Debit Mastercard, V Pay and Visa Debit. A few banks are pursuing a two-card strategy and will offer their customers two cards (e.g. a girocard and a Debit Mastercard) instead of one in the future. Either way, the local banks and Sparkassen ensure that their customers can pay conveniently and comfortably abroad.
Further development of girocard
With over 100 million cards issued, more than 1 million active terminals, and over 6.7 billion transactions annually, the German banking industry's debit card remains by far the most widely used card payment method in Germany.
As the market leader in Germany, girocard stands girocard a proven, secure, and established payment method. It retail sector also a reliable partner for the retail sector , offering a particularly cost-efficient system for guaranteed payments. And, of course, these cost advantages are ultimately also noticeable for customers.
In the coming years, the debit card of German banks and Sparkassen will be future-proofed in line with market requirements. The aim is to open up new areas of acceptance and bring innovations to the market. In the process, the system will continuously receive new, tailor-made additional functions, e.g. age verification and the digital receipt.
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girocard service message
girocard image service message (Source: girocard.eu, Mumbächer Fotografie)
About girocard:
Banks and Sparkassen Germany have issued around 100 million girocards. The "girocard" brand represents the German Banking Industry Committee's overarching framework 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 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 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 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 us
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
