Card payments are now the predominant form of electronic payment in Germany, as highlighted in the Bundesbank’s latest Monthly Report, with debit cards accounting for the largest market share. The main driving forces behind the increased usage of cards as a means of payment have been the introduction of contactless technologies as well as changes in consumer behaviour as a result of the COVID-19 pandemic.

Number of debit cards rising

The number of debit cards in circulation and the number of transactions carried out using them has risen sharply in recent years. Between 2019 and 2024, the number of transactions per year increased from 3.9 billion to 10.9 billion. In 2023, around 97 % of the population owned at least one debit card. While approximately 111 million debit cards were issued by German payment service providers in 2018, by 2024, this figure had risen to 162 million, write the Bundesbank’s experts. The share of credit cards has declined, decreasing from 24 % in 2018 to 17 % in 2024. 

Girocard remains popular 

Girocard remains the most widely used card in Germany, although international card schemes such as Visa and Mastercard have been able to increase their market shares with their debit cards in recent years.

According to the Report, national card networks such as girocard are beneficial for reasons of European sovereignty, operational resilience, and competitiveness. Furthermore, from the perspective of retailers, girocard is the least expensive cashless payment method. In 2025, it resulted in costs averaging just under 1 % of turnover, while the costs of accepting cards from the international card schemes were significantly higher. 

Growing acceptance of card payments

The acceptance of card payments in the retail sector has grown in recent years, especially among larger retailers. Nevertheless, there is still room for expansion. While girocard was accepted by 73 % of the surveyed retailers, only around half accepted Visa and Mastercard debit cards and credit cards. 

This means that people do not always have the freedom of choice. As found by a study recently published by the Bundesbank, just under three-quarters of the general public would support an obligation to accept cashless means of payment in order to strengthen the freedom of choice when making payments. 

Mobile payments and trend towards wallets 

The trend towards mobile payments is also becoming increasingly significant. In Germany, the share of card payments initiated via a mobile device rose from 5 % in 2022 to 16 % in 2024. It is already becoming apparent that, in future, payments in Germany will be increasingly varied, digital and mobile, states the Report. 

In addition to card-based payments, instant payments are gaining in importance. Instant payments enable payments to be made within a few seconds and provide the technical infrastructure for new services for payments between individuals, online, and at points of sale. Solutions such as these can reduce dependence on non-European providers, boost competition and broaden the range of choices available to consumers and retailers, the authors write. 

As the use of mobile-initiated payments – whether card-based or instant payments – is rising sharply, competition for wallets is becoming more and more pronounced. For end customers, the payment experience is becoming increasingly homogenous, regardless of the underlying infrastructure. In addition, the digital euro could expand the range of available mobile payment options in future as an all-in-one payment solution that can also be used offline.