Credit card lying on a keyboard
Tasks and services

Efficient and secure payment systems are the foundation of a stable financial system. The Bundesbank secures and monitors cashless payments in Germany as a financial centre, provides settlement and clearing services and plays an active role in the further development of the single European payment system.

TARGET2 - Balance
Statistics and monitors

Bundesbank's TARGET2 claims
Amount: EUR 1,081,989,473,053.64
(As of: 31 March 2021)

Payments in Europe
Photo shows the start image of the animated film on “Payments in Europe”

Whilst Europe is home to successful payment systems – Germany’s girocard scheme, for instance – these are often only national in scope. How can payment operations be harmonised across Europe and made more convenient for consumers?

Money in programmable applications
Blue digital binary data on computer screen

Digital transformation is giving rise to new business models and is fundamentally changing existing business processes. Many of these processes will be much more automated still in future. Distributed ledger technology, which uses tokens to represent real goods and services and allows these to be traded digitally, makes it possible for flows of services to be programmable, autonomous and automated. 

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Weidmann: central banks should not crowd out private payment solutions
Virtual Conference "Future of Payments"

According to Bundesbank President Jens Weidmann, central banks should beware of crowding out private payment solutions and should play a supportive role instead. Mr Weidmann pointed out that competition and regulation are essential for a good market outcome. As central banks provide the backbone of the payment system, they need to be at the cutting edge of technology, he explained. This, he emphasised to participants of a Bundesbank virtual conference, includes working on central bank digital currency.

PSD2
Flags of the European Union in front of the Berlaymont in Brussels

With the second Payment Services Directive (PSD2), not only credit institutions, but also third-party payment service providers are able to offer their own account services.

Danish krone available as first foreign currency in T2S
logo TARGET2-Securities

On business day 29 October 2018 the Danish krone successfully became the first foreign currency to be made available for settlement in TARGET2-Securities (T2S).

Monthly Report: Bundesbank sees benefits in blockchain technology
Cable of a mainframe

In the latest Monthly Report, the Bundesbank’s payment specialists look at distributed ledger technology (DLT).