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Will Girocard and Giropay be merged?

The Girocard of German banks

Frankfurt Germans increasingly use the Girocard, the former “EC card”, at the cash desk. But the German banking sector plays almost no role in rapidly growing e-commerce and online payments. US group Paypal dominates here. But now German banks and savings banks are trying to thwart Americans with their roughly 29 million users in Germany.

As a first step, the Girocard should already be stored in the previously rarely used online payment method Giropay. It would therefore also be easier to use for online purchases, where Paypal dominates in Germany.

Lenders have also been talking behind the scenes for some time about how to rearrange their payment offerings. According to information from Handelsblatt, this could also lead to a major structural reform: the previously separate joint ventures Paydirekt and Euro Kartensysteme (EKS) could be merged in whole or at least in part.

Girocard and Giropay must be merged

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