Germany Cards And Payments Market Historical Trends, Analysis And Forecasts (2018 -2023)
Germany Cards And Payments Market © prashanth velishoju
Report Overview :
There has been a revolutionary change in the competitive landscape of payment systems as technological innovations made banking more convenient and accessible. As the German economy recovered after the financial crisis, its banking system was developed to fulfill the payment needs of corporate and individual customers. Banking institutions focused on improving infrastructure and legal support services to increase the payment system’s efficiency and bring it in line with international standards. The growing acceptance of card payments in Germany is expected to reduce the size of the shadow economy while reducing the amount of cash payments which can be hidden to evade tax. The payment system registered a significant shift from credit transfer, direct debit and check-based payments to the use of payment cards and online banking.
To Know More Information @ https://marketdataforecast.com/market-reports/Germany-Cards-and-Payments-Market-6933/
Growth in M-Commerce:
M-commerce growth has been possible due to high smartphone and tablet penetration rates, the development of mobile-friendly websites, shopping apps and the fast delivery of goods by e-retailers. With the adoption of advanced safety and security measures such as secure PIN systems, virtual credit cards, virtual keypads, one time passwords and dynamic passwords, the use of financial cards for mobile commerce transactions is increasing. Heightened smartphone penetration and an evolution in the payment system, is expected to create rapid expansion opportunities for m-commerce over the forecast period.
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Competitive marketing and pricing strategies help card issuers to gain market share
As competition among card issuers increases, marketing, product and pricing strategies are being employed to attract larger customer bases. Offers such as fuel, car rental, travel and restaurant discounts, alongside reward points, insurance benefits, personalized cards and no annual fees are some of the most common marketing strategies employed by issuers. Banks are segmenting their retail customers based on age, gender, income and spending patterns. Corporate customers are segmented by their specific service requirements. However, both are targeted with customized payment cards. Barclays targets students with the Barclaycard for Students, while Landesbank Berlin launched the LLB Prepaid Visa Card which is aimed at those with a low credit rating. .
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Corporate cards designed to meet specific business needs have been introduced by firms such as Commerzbank who offer the Corporate Card to manage business travel expenses, or AIrPlus who’s Purchasing Card helps companies in manage their invoices.
About Us :
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. A few key business areas that we handle with excellence include business process improvement, corporate financing and decision making based on market research, assisting in developing appropriate strategy and providing consultancy based on extensive research.
Contact Info:
Name: Mr. Abhishek Shukla
Email: abhishek@marketdataforecast.com
Organization: MarketDataForecast™
Address: 2nd Floor, Above ICICI Bank, B-44, Rd Number 3, Journalist Colony, Film Nagar, Hyderabad, Telangana 500033, India.
Phone: +1-888-702-9626
There has been a revolutionary change in the competitive landscape of payment systems as technological innovations made banking more convenient and accessible. As the German economy recovered after the financial crisis, its banking system was developed to fulfill the payment needs of corporate and individual customers. Banking institutions focused on improving infrastructure and legal support services to increase the payment system’s efficiency and bring it in line with international standards. The growing acceptance of card payments in Germany is expected to reduce the size of the shadow economy while reducing the amount of cash payments which can be hidden to evade tax. The payment system registered a significant shift from credit transfer, direct debit and check-based payments to the use of payment cards and online banking.
To Know More Information @ https://marketdataforecast.com/market-reports/Germany-Cards-and-Payments-Market-6933/
Growth in M-Commerce:
M-commerce growth has been possible due to high smartphone and tablet penetration rates, the development of mobile-friendly websites, shopping apps and the fast delivery of goods by e-retailers. With the adoption of advanced safety and security measures such as secure PIN systems, virtual credit cards, virtual keypads, one time passwords and dynamic passwords, the use of financial cards for mobile commerce transactions is increasing. Heightened smartphone penetration and an evolution in the payment system, is expected to create rapid expansion opportunities for m-commerce over the forecast period.
For Sample Report @ https://marketdataforecast.com/market-reports/Germany-Cards-and-Payments-Market-6933/request-sample
Competitive marketing and pricing strategies help card issuers to gain market share
As competition among card issuers increases, marketing, product and pricing strategies are being employed to attract larger customer bases. Offers such as fuel, car rental, travel and restaurant discounts, alongside reward points, insurance benefits, personalized cards and no annual fees are some of the most common marketing strategies employed by issuers. Banks are segmenting their retail customers based on age, gender, income and spending patterns. Corporate customers are segmented by their specific service requirements. However, both are targeted with customized payment cards. Barclays targets students with the Barclaycard for Students, while Landesbank Berlin launched the LLB Prepaid Visa Card which is aimed at those with a low credit rating. .
Buy Now @ https://marketdataforecast.com/cart/buy-now/Germany-Cards-and-Payments-Market-6933/
Corporate cards designed to meet specific business needs have been introduced by firms such as Commerzbank who offer the Corporate Card to manage business travel expenses, or AIrPlus who’s Purchasing Card helps companies in manage their invoices.
About Us :
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. A few key business areas that we handle with excellence include business process improvement, corporate financing and decision making based on market research, assisting in developing appropriate strategy and providing consultancy based on extensive research.
Contact Info:
Name: Mr. Abhishek Shukla
Email: abhishek@marketdataforecast.com
Organization: MarketDataForecast™
Address: 2nd Floor, Above ICICI Bank, B-44, Rd Number 3, Journalist Colony, Film Nagar, Hyderabad, Telangana 500033, India.
Phone: +1-888-702-9626