Germany’s payment landscape continues to evolve, with card payments experiencing significant growth while traditional methods adapt. According to data released by the Deutsche Bundesbank, the number of transactions processed using cards issued by German payment service providers surged by 11% in 2024 compared to the previous year.
This expansion represents approximately 13 billion transactions, with card payments now accounting for 40% of all transactions initiated by non-bank entities. Direct debit transactions also maintained considerable activity, rising by 3% to reach 9.9 billion transactions. However, their market share has slightly decreased, falling from 34% to 31%.
Traditional bank transfers demonstrated resilience, increasing by 4% to 7.6 billion transactions. Their share of overall payments remained stable at 24%. A notable shift is observed in SEPA Instant Transfers, which experienced a robust 37% increase year-on-year, culminating in 337 million transactions. This represents a one percentage point rise in their share of electronically triggered transfers, now standing at 4.9%.
Examining the value of transactions, bank transfers continue to dominate, representing 90% of total payments with a combined value of €64 trillion. Direct debits accounted for 8% of the total value, reaching €5.9 trillion.
Parallel to this digital shift, the physical infrastructure supporting payments is undergoing a contraction. The number of ATMs operated by German payment service providers fell by 3% in 2024, dropping to around 49,750 from approximately 51,300 the previous year. Similarly, the number of payment terminals also decreased by 3%, falling from roughly 23,200 to around 22,500.
