One of the reasons the EC card came to an abrupt end is that around half of the payments made worldwide come from Germany. A market now too small for the internal payment system, as the banks find it. That’s why they will use debit cards from next summer. Huge retail sales of more than 200 billion euros, achieved so far via the giro card, are bringing the Visa and Mastercard groups out of their entrenchments.
The use of card payments is currently higher than ever, as a study shows. “By getting rid of existing card solutions, they are trying to enter the market through banks,” says Rau. “Payment with the conventional EC card will still be possible at home and abroad, but with regard to online purchases, this is no longer possible.” For example, when buying train or plane tickets, abandoning the Maestro card also complicates business travel. An alternative could be for banks to offer a two-card system.
A postcard would then be used for domestic use and a debit or credit card for use abroad. Companies wishing to purchase new transfer cards can do so, but must pay a monthly fee. The neo-banks offer a solution that is increasingly used since with their new options they offer alternatives to the two-card system and the increase in fees.