Alternative Payment Solution: ELV

2017-08-24
Price :
Published : Aug-2017
No. of Pages : 15

Alternative Payment Solution: ELV

Summary

Elektronisches Lastschriftverfahren (ELV) is an electronic direct debit system in Germany. Launched in the 1980s by a group of merchants, in 2015 it accounted for 10.4% of all non-cash transaction volume in Germany.

In-store ELV payments are made using magnetic stripe debit cards that contain the necessary bank account and bank code details. The system allows retailers to initiate an automated direct debit transaction at the point of sale (POS) terminal. ELV can also be used as a payment option for e-retailers. Payments are not authorized by issuing banks, and merchants have to bear the risk of defaults.

ELV payments are accepted by most banks in Germany as well as by a number of payment service providers (PSPs), including Worldpay, Skrill, North Payments, Payzoff, Ingenico, Buckaroo, Payone, Adyen, eMerchantPay, and Netbank.

The report provides information and insights into alternative payment solution ELV, including -
- Detailed insight into its business
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- Information on its performance, including its revenue model
- The company’s important events and milestones.

Scope

- ELV was launched in the 1980s by a group of merchants.
- In 2009, ELV Forum was formed to promote standardization.
- The system allows retailers to initiate an automated direct debit transaction at POS terminal.
- In 2015, ELV accounted for 10.4% of all non-cash transaction volume in Germany.

Reasons to buy

- Gain insights into ELV’s business operations, and key events.
- Gain insights into its product portfolio and revenue model.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

Filed in: Banking & Finance
Publisher : GlobalData
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