Consumer Payments Country Snapshot: Germany 2016

2017-06-19
Price :
Published : Jun-2017
No. of Pages : 44

Consumer Payments Country Snapshot: Germany 2016

Summary

Payment cards are used sparingly at the point of sale (POS), and the German POS network is among the least developed in Europe. The German maxim is “geld stinkt nicht” (literally “money doesn’t stink”) – consumers consider cash to still be the best available option due to a combination of ingrained consumer habits and the German cultural preferences for spending within one’s means. As a result, alternative payment methods are sharply limited in both usage and consumer interest.

Less than 10% of German consumers held a revolving credit card in 2015, and of those 80% paid off their balances in full each month. The opportunity for credit card revenue in Germany is thus sharply limited, and there would need to be a seismic shift in the German attitude to debt to change this.

German consumers used cash for 55% of all payments made in 2015. German consumers’ preference for cash is not tied to the convenience of its use – Germans prefer the anonymity, certainty, and above all control over personal spending afforded by cash. To change this, new payment tools are needed that provide the same benefits to consumers.

Germany is the third-largest e-commerce market in Europe behind only the UK (EUR156bn) and France (EUR72bn), although its population is much larger than either of those countries. This highlights that Germans are not nearly as engaged with the online channel as the French or British. The average German household spent a total of EUR1,648 online in 2016, compared to EUR2,419 in France and EUR5,605 in the UK.

Germany’s POS infrastructure is heavily underdeveloped for a European market, with more than 100 people for every POS terminal in 2015. Other Western European markets – even heavily cash-reliant ones such as Italy (one POS terminal per 30 people in 2015) – have much higher levels of POS penetration, with an average of one terminal per 45 people in 2015 among Western European markets excluding Germany.

The report “Consumer Payments Country Snapshot: Germany 2016” examines the consumer payments market in Germany, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. This report also examines the main regulatory players in the German market.

In depth, this report provides the following –
– Analyzes consumer attitudes to financial services by lifestage.
– Analyzes the major payment card types in terms of both card holding and usage.
– Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.
– Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in Germany are deploying these tools to meet customer needs.
– Explores the online payment market in Germany by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.

Companies mentioned in this report: Visa, Mastercard, Girocard, Deutsche Bank, Sofort, Cookies, PayPal, Apple, Android, SIA, Jiffy, Deutsche Telekom, DSGV, Sparkasse, GeldKarte, BVR, Landesbank, American Express, Diners Club.

Scope

– Less than 10% of German consumers held a revolving credit card in 2015, and of those 80% paid off their balances in full each month.
– German consumers’ preference for privacy have led them to favor online payment tools that allow them to pay without revealing their account information, meaning PayPal and Sofort are both popular.
– German consumers’ preference for cash is not tied to the convenience of its use – Germans prefer the anonymity, certainty, and above all control over personal spending afforded by cash.

Reasons to buy

– Understand the key facts and figures in the consumer payments market in Germany.
– Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.
– Find out what products the major competitors are launching in the market.
– Discover consumer sentiments towards various payment tools in the German market and use this knowledge to inform product design.

Filed in: Banking & Finance
Publisher : GlobalData
More Reports
Title Price Buy Now

Competitor Profile: Scalable Capital

Competitor Profile: Scalable Capital Summary Scalable Capital is a digital investment management firm. It creates and manages globally diversified ETF portfolios for its clients to help them achieve their long-term financial goals, supported by proprietary risk management technology. Scalable Capital is available in four countries: Germany, the UK, Austria, and Switzerland. The report provides information and insight into Scalable Capital, including - - Its business and geographical presence. - Comprehensive coverage of its products and services. - A comparison against key competitors. - Information on its revenue model and market potential. - Important events and milestones. Scope - In 2016, Scalable Capital launched in Germany, the UK, and Austria. - In March 2017, Scalable Capital ......
$350

Competitor Profile: Tandem

Competitor Profile: Tandem Summary Tandem is a provider of mobile retail banking services. Its banking app enables customers to see all their financial information in an intuitive and engaging way. It currently offers a cashback Mastercard credit card, a Mastercard credit card for people with limited credit histories, and a range of fixed-term savings accounts. This report provides information and insights into Tandem, including - - Detailed insight into its business and geographical presence. - Comprehensive coverage of its products and services. - Comparative assessment with key competitors. - Information on its performance, including its revenue model. - The company's important events and milestones. Scope - In November 2015, Tandem was launched in the UK. - In August 2017, Tandem ......
$350

UK Insurance Aggregators 2019

UK Insurance Aggregators 2019 Summary "UK Insurance Aggregators 2019", report explores the ever-changing consumer purchasing behavior through price comparison sites. It identifies what is most influential to customers when selecting a policy through this channel and reveals the brand strategies of the four leading sites. Their distinct approaches to advertising are also highlighted, as well as the key factors that will influence the market over the coming years, including regulation and new technology. The percentage of consumers conducting research on price comparison websites at renewal increased in the motor and pet lines, while home and travel insurance saw declines. Motor insurance, the biggest market for aggregators, posted a rise of 4.5 percentage points. This trend was replicate......
$3450

Targeting Millennials in Financial Services

Targeting Millennials in Financial Services Summary "Targeting Millennials in Financial Services", report explores the attitudes and behaviors millennials have with regards to their financial services, using our extensive surveying of consumers in 20 key banking markets around the world. It identifies those aspects of the customer experience that financial services providers need to address to effectively engage with millennials and highlights successful providers, products, services, and campaigns. Best practice examples and studies presented are drawn from around the world and across the economy, encompassing banks, insurers, investment managers, consumer brands, and retailers. In the last two decades, millennials have matured in terms of their size, economic strength, and socio-cultu......
$5250

Strategic Market Intelligence: Insurance Industry in Ghana – Key Trends and Opportunities to 2022

Strategic Market Intelligence: Insurance Industry in Ghana - Key Trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: Insurance Industry in Ghana - Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Ghanaian insurance industry. GlobalData's 'Strategic Market Intelligence: Insurance Industry in Ghana - Key Trends and Opportunities to 2022' report provides a detailed outlook by product category for the Ghanaian insurance industry. It provides values for key performance indicators such as written premium, density and during the review period (2013-2017) and forecast period (2017-2022). The report gives a comprehensive overview of the Ghanaian economy and demographics, and provides detailed inform......
$995

Strategic Market Intelligence: Life Insurance in Kenya – Key trends and Opportunities to 2022

Strategic Market Intelligence: Life Insurance in Kenya - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: Life Insurance in Kenya - Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Kenyan life insurance segment. GlobalData's 'Strategic Market Intelligence: Life Insurance in Kenya - Key Trends and Opportunities to 2022' report provides a detailed outlook by product category for the Kenyan life insurance segment. It provides values for key performance indicators such as written premium, claims paid, life insurance penetration, total assets, and total investment income during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distribution channels op......
$3999

Strategic Market Intelligence: General Insurance in Kenya – Key trends and Opportunities to 2022

Strategic Market Intelligence: General Insurance in Kenya - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: General Insurance in Kenya - Key trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the the Kenyan general insurance segment. GlobalData's 'Strategic Market Intelligence: General Insurance in Kenya - Key trends and Opportunities to 2022' report provides a detailed outlook by product category for the Kenyan general insurance segment. It provides values for key performance indicators such as written premium, claims ratio and general insurance penetration during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distribution channels operating in the se......
$3999

Strategic Market Intelligence: Life Insurance in Vietnam – Key trends and Opportunities to 2022

Strategic Market Intelligence: Life Insurance in Vietnam - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: Life Insurance in Vietnam - Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Vietnamese life insurance segment. GlobalData's 'Strategic Market Intelligence: Life Insurance in Vietnam - Key Trends and Opportunities to 2022' report provides a detailed outlook by product category for the Vietnamese life insurance segment. It provides values for key performance indicators such as written premium, gross claims, life insurance penetration, total assets and total investment income during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distributi......
$3999

Strategic Market Intelligence: Reinsurance in Kenya – Key trends and Opportunities to 2022

Strategic Market Intelligence: Reinsurance in Kenya - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: Reinsurance in Kenya - Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Kenyan reinsurance segment. GlobalData's 'Strategic Market Intelligence: Reinsurance in Kenya - Key trends and opportunities to 2022' report provides a detailed outlook by product category for the Kenyan reinsurance segment. It provides values for key performance indicators such as premium accepted, premium ceded and cession rates, during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Ke......
$3999

Strategic Market Intelligence: General Insurance in Vietnam – Key trends and Opportunities to 2022

Strategic Market Intelligence: General Insurance in Vietnam - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: General Insurance in Vietnam - Key trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the the Vietnamese general insurance segment. GlobalData's 'Strategic Market Intelligence: General Insurance in Vietnam - Key trends and Opportunities to 2022' report provides a detailed outlook by product category for the Vietnamese general insurance segment. It provides values for key performance indicators such as written premium, claims ratio and general insurance penetration during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distribution channels opera......
$3999
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy