The payments industry in Germany: Status and further developments or a triangle of scale, complexity and low fees

Niklas Bartelt and Ronny Wittig
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Niklas Bartelt: EBS University of Business & Law, Germany
Ronny Wittig: Bain & Company, Germany

Journal of Payments Strategy & Systems, 2023, vol. 17, issue 3, 323-349

Abstract: The German payments market is sizeable, handling almost one-quarter of the non-cash transactions conducted in the euro area, and benefiting from structurally lower cost levels. At the same time, it is characterised by a highly complex and intense competitive set. These two factors seem to result in low fee levels. The COVID-19 pandemic has accelerated structural change (and digital payments adoption) in a market with distinctive institutions and consumer preferences. This paper reviews both the key players shaping the overall payments market, as well as the characteristics of key payment solutions and situations. In doing so, the paper identifies and explains the idiosyncrasies of the German market, linking back to the aforementioned factors shaping the German payments market.

Keywords: payments; Germany; banks; point of sale; cash; card payments; online payments; banking sector (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2023:v:17:i:3:p:323-349

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