Country Series: Germany Online Banking and Payments Landscape

Germany has a thriving and highly developed online payments market. According to a report from German trade agency, Germany Trade & Invest, the E-commerce market in Germany is estimated to grow from $36.8 Bn in 2012 to $44.7 Bn in 2017 at a CAGR of 21.4%. High internet penetration (89% of Germans between the ages of 25 and 44 use the Internet) and increased smartphone based purchases (25% of Germans claim to have used their phone for purchases), the demand for efficient and secure online/mobile payment services is likely to increase.

Currently, the most preferred mode of online payment is through online banking. Germany has a very well developed banking industry. The demand for online banking has been increasing in the last few years. According to DB Research, ther ...

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