Card payments continue to grow in Germany

By: Trademagazin editor Date: 2024. 04. 18. 09:05

According to data from the EHI research centre, card payments in the German retail sector have reached €300 billion for the first time. Girocard is particularly popular with shoppers.

„The significant increase in share seen during the pandemic is now expanding even further, even more than in the years preceding the pandemic”, said Horst Rüter, EHI board member and payments expert, at this year’s Payments Congress in Bonn, which attracted more than 600 participants.

In the German retail sector (€465-485 billion), the share of cash in total turnover, which has risen sharply due to inflation, fell by another 2 percentage points to 35.5% in 2023 compared to the previous year. At the checkout, customers paid an estimated €172 billion in cash. The share of purchases paid by card is 61.8%.

As regards plastic money, cards are clearly in the lead. With a 42.4% share of total turnover, Girocard is well ahead of traditional credit cards (8.6%) and their debit versions (4.1%).

The above information comes from the study “Payment systems in retail 2024”, which will be published at the end of June. The survey involves 422 companies representing around 100,000 businesses in 35 sectors.

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