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More to be found in the Cross-border Ecommerce Report - Germany
Find out more about online payment methods in Germany and how to increase conversion.
• Domestic and Preferred Card Schemes
Of the 53.3 million personal credit cards in Germany, they are almost evenly split between MasterCard and Visa. MasterCard takes a marginally greater share at 51.9%.
• Alternative Payment Methods:
• PayPal – Being an eBay Inc. company, it was founded in 1998. It provides its clients the flexibility and choice to use their bank accounts, credit cards, etc. in a single account to pay a merchant, without the need to share confidential information with the merchant.
• Giropay – An online payment method, which is supported by more than 1500 banks, and a client can use the service provided as long as an online checking account at a participating bank is available.
• Sofortüberweisung.de – An easy and simple way to process online payments. Unlike other online transfer payment methods, there is no account registration. Credentials provided by the customer’s bank and a Transaction Authentication Number (TAN) are necessary to progress through the payment process.
• Prepaid Voucher – It is an electronic stored value voucher, which could be redeemed through SMS and be transferred instantly in a user’s account for immediate use.
• Prepaid Card – A payment card with monetary value stored into it, without maintaining an account with a bank.
• Bank Transfer – The transfer of funds from one account to another within the same or interbank, as long as supported.
Read an in-depth overview (including sources) of card schemes, alternative payment methods, online payment methods in Germany and how to increase conversion by using the payment methods in the downloadable country report.
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