Interchange Reforms Underpin Shift To Girocard In Germany

Germany’s long-standing direct debit-based system of point of sale (POS) payments lost ground to the interbank Girocard system for the first time in 2018, with interchange fee reforms prompting merchants to flock to the lower-cost option.

Girocard acceptance by merchants rose by 15.1 percent in 2018 in the country, while the competing electronic direct debit system — Elektronisches Lastschriftverfahren, or ELV — dropped by 18.8 percent.

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