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September 6, 2023
On the web
BNPL is Growing Strongly in Germany
Ecommerce News
June 7, 2023
On the wires
RS2 and Rubean Announce Strategic Partnership to Deliver a Global SoftPOS Solution
PR Newswire
May 26, 2022
On the web
Visa and Western Union Kick-Off New Partnership in Consumer Banking With the Launch of WU+ in Romania and Germany
Business Review
“Visa and Western Union today announce a new partnership in Germany and Romania, with the launch of WU+, the new integrated digital banking and international money transfer app. WU+ app customers will be able to open a digital bank account and pay across all channels with their Visa Debit card. Western Union, through its partnership with Visa, a global leader in payment technology, is enabling its customers to enjoy the benefits of a unique consumer banking offering. WU+ customers can hold a digital bank account in 13 currencies send and receive money internationally and instantly with other WU+ account holders, for free. At the same time, they can use their Visa Debit card, linked to their account, to pay for purchases where Visa cards are accepted. This means that the app’s users can access both Visa’s global network and Western Union’s vast global retail network for cash transactions.”
April 22, 2022
On the web
Germany’s Commerzbank Applies for Local Crypto License
Coindesk
“Germany’s Commerzbank (CBK) applied for a crypto license earlier this year, a spokesperson for the bank said. This makes it the first major bank in Germany to move towards crypto adoption.A bank spokesperson said Commerzbank wants to help shape emerging digital ecosystems, especially with regard to custody and trading in non-physical assets.“To this end, we entered into a cooperation with Deutsche Börse and Fin-Tech 330x in spring 2021. In addition, we are pursuing our own digital asset strategy and are also planning our own offerings for our customers in the coming years. We have applied for a license from the Bafin for the safekeeping of crypto assets. The future offer is initially aimed at institutional customers,” said Bernd Reh, senior spokesman, Commerzbank.”
September 3, 2021
On the web
Shopify expands integrated retail solutions in Germany
Enterprise Times
“Shopify has expanded its integrated retail hardware for Shopify POS . In addition to Shopify Payments for in-person transactions to retail merchants in Germany. The company says merchants will benefit from unifying the online and offline shopping experience. The pandemic ushered in a new standard for shopping everywhere. Shopify’s research on consumer behaviour in Germany reveals that shopper preferences have fundamentally changed as a result. As the majority of German consumers look to shop in physical stores post-pandemic.”
May 19, 2021
On the web
German Supermarket to Trial Anonymous Checkout-free Shopping
NFCW
“Customers at a supermarket in the German city of Cologne owned by retail giant Rewe will soon be able to enter the store by scanning a QR code, selecting the items they wish to buy and paying for them from their mobile phone without needing to scan their purchases or use a checkout. The supermarket in the city’s Zeppelinstrasse is trialling a system that links each customer anonymously to a unique ID number on entry, tracks the items they take from the shelves using a combination of ceiling-mounted cameras and shelf sensors, and automatically charges them for their purchases as they exit the store.”
August 12, 2020
On the web
Pandemic Or Not, Germans Still Prefer Cash
NPR
“Germany’s central bank issued 17 billion euros more notes and coins in March than it did the previous month. The Bundesbank told NPR that while this spike was an initial reaction to the health crisis, consumer demand means the bank is still issuing normal amounts of cash, roughly 3 billion to 5 billion euros a month. Bundesbank executive Johannes Beermann even announced in April that using cash isn’t particularly risky as long as consumers wash their hands.”
June 11, 2020
On the wires
Klarna and Raisin Launch Cooperation on Deposits
“Klarna, a global leader in payments and online shopping, has launched a cooperation in Germany with the deposits marketplace Raisin. By partnering with the Berlin-based fintech Klarna is further expanding into the German savings market. In a first for Klarna, and available exclusively to Raisin’s customers in Germany ( https://www.WeltSparen.de ), the new products include an overnight money account with a competitive interest rate of 0.35%. The Klarna deposit products from overnight to terms of up to 48 months are accessible through a completely online process via WeltSparen.”
June 9, 2020
On the wires
Vivid Money Launches Together With SolarisBank and Visa in Germany
“Vivid Money, the mobile banking platform to spend, save and invest, today announces its launch together with solarisBank, the tech company with a banking license, and Visa in Germany. The Berlin-based company aims to help people to make more of their money by combining the all-in-one mobile-first approach with a full-service package. Using the Vivid Money app, users can open an account for free in just a few minutes and manage their finances simply and intuitively via their smartphone.”
July 19, 2019
On the wires
Wirecard and ALDI Sign MOU and Agree Collaboration
Wirecard Press Room
“Wirecard (…) and ALDI Nord and ALDI SÜD Groups have signed an MOU and plan to work together in the area of cashless payments. Within the scope of the partnership, Wirecard will process all credit card and international debit card payments at all ALDI stores in Germany. The possibility of expanding the cooperation is also being considered.”
May 7, 2019
On the web
Card Payments Outstrip Cash for First Time in Germany
The Local
“Germany’s preference for cash is legendary. While in neighbouring Holland, Sweden and Finland some supermarkets will have cash-free aisles, simply paying with a card in some parts of Germany is difficult. But a new study has shown that growing trust in card payments – particularly among younger Germans – has tipped the balance in plastic’s favour for the first time in German history. The EHI Retail Institute in Cologne published a report into how Germans paid in 2018, showing that over €209 billion was spent by card. The cash amount totalled €208 billion, meaning cards outweighed cash for the first time.”
November 7, 2018
On the wires
PayPal Expands Business Financing Program into Germany with PayPal Businesskredit
“Millions of small businesses around the globe turn to PayPal for their payment processing and funding needs. Today, PayPal is expanding its PayPal Working Capital program into Germany with PayPal Businesskredit. PayPal Businesskredit will offer PayPal merchants a financing solution that will help them further grow their business.”
August 28, 2018
On the web
Complexities of the German payments market – could mobile payments become meaningless?
Payments Cards and Mobile (Opinion)
“The Germans are known to have a strong and ingrained attachment to cash. In fact, more daily transactions are carried out in cash than in neighbouring European countries. However, this could be changing; there is growing adoption of electronic payments which is illustrated by the fact that between 2008 and 2017, the proportion of cash payments fell from 69% to 44% among 18-24 year olds – according to a study by the Deutsche Bundesbank.”
June 5, 2018
On the web
Will Contactless Payment Ever Take Off In Germany?
The Local
“Earlier this year the Bundesbank published a survey entitled “Payment behaviour in Germany” based on data from 2017 which revealed that Germans still prefer to pay for most of their purchases using their beloved Bargeld (cash). The survey also found that German consumers carry around an average amount of €107 in their wallets – nearly the same as when the Bundesbank conducted the survey in 2008. In 96 percent of cases, small amounts of up to €5 were paid for using cash. Figures from the survey moreover showed that consumers settled around three quarters of payments using banknotes and coins.”
February 15, 2018
Top Post
Cash is king no more in Germany as cards gain ground
Reuters
“The Bundesbank has been a staunch advocate of cash in the face of a global shift to electronic forms of payments such as debit cards and an international debate about the idea of digital-only money issued by central banks. But a survey of about 2,000 people by the German central bank showed cards were gradually gaining ground in the country, even if cash remained the favorite form of payment.”
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