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Payment systems

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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.

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).

Payments in Germany
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German payment service providers operated around 103 million current accounts last year. The payment statistics published by the Deutsche Bundesbank also show that the number of transactions involving these accounts in 2017 increased compared with 2016.

TARGET2 - Balance
Statistics and monitors

Bundesbank's TARGET2 claims
Amount: EUR 927,555,162,351.79
(As at: 31 October 2018)

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).

T2S: Migration of all markets successfully completed
Logo of TARGET2-Securities

The final wave of migration to the European securities settlement platform TARGET2-Securities (T2S) has been successfully completed. Nearly all European securities settlements are now being conducted through T2S.

Weidmann: cashless forms of payment increasingly popular
Panel discussion at the 2017 payments symposium

Growing numbers of consumers in Germany are using electronic payment methods, says Bundesbank President Jens Weidmann.

Creditor Identifier
SEPA - Single Euro Payments Area

The SEPA direct debit scheme provides the Creditor Identifier to specify the identity of the direct debit creditor.

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