Pay for purchases faster with Girocard
Paying for purchases with the Girocard is quick.
Photo: George Wenzel/dpa-generalbuild/dpa
For hygienic reasons alone, the corona pandemic has played a major role in this trend: cashless payments by card or smartphone are becoming increasingly popular.
Frankfurt am Main. Cashless payment with Girocard continued to gain popularity in the first half of 2022. The Frankfurt location EuroCartensystem counted around 3.17 billion payment transactions with Girocard in the first six months of the current year, according to the Girocard half-year data published on Wednesday. That was around 17 percent more than in the same period last year. Many consumers also took advantage of the option of making contactless payments at the checkout with a card, smartphone or smartwatch.
In the first half of the year, almost three quarters (74.3 percent) of Girocard payment transactions were processed contactlessly. In the same period of the previous year, this share was around 64.1 percent. With contactless payment, consumers do not have to insert their plastic card into the reader, they simply hold it up to the terminal. For amounts up to 50 euros, it is not necessary to enter a secret number (PIN).
During the corona pandemic, retailers advertised with this payment method for hygienic reasons. Smartphone or smartwatch owners can avoid physical contact with a payment terminal altogether. With Apple Pay and Google Pay, the unlocking takes place on your own device, not by entering a PIN at the terminal.
Most of the approximately 100 million Girocards that banks and savings banks issue to their customers in Germany are equipped with a contactless function.
According to the information, the number of payment terminals at which consumers can pay with their Girocard exceeded the one million mark for the first time in the first half of the year. That was an increase of around 11.0 percent compared to the same period of the previous year.
© dpa-infocom, dpa:220817-99-413094/2 (dpa)