The information contained in the study is of interest to all market participants affected by the payment behaviour of private individuals, most notably retailers, credit institutions, card issuers and, last but not least, the Deutsche Bundesbank itself. Players wishing to foster more innovation in the field of payments need to offer a genuine advantage over established schemes and procedures and, in particular, to heed users’ perceived security needs.

The March 2018 Monthly Report sheds light on Germany’s balance of payments for 2017 and provides an insight into demand for euro banknotes at the Deutsche Bundesbank. It also includes an article on the design, regulation and use of contingent convertible bonds.