Today's cards are more than just a simple means of paying for goods or services. They allow consumers to track their spending, save money on exchanges, and receive cash back and exclusive rewards.
But a card can be much more than that: an expression of a lifestyle or a shared set of values, whether in a personal or business setting.
And, the rise of digital payments could be a turning point in the payment card market as the landscape shifts from card-based competition to transaction-based competition.
The entire EU pays by card! The total volume of card payments is growing rapidly, and digital payment cards will reinforce this trend. Interesting: The trend is toward smartphone payments at the POS - digital cards make this possible.
Image data source: ECB - Payment Statistics 2021
For a long time, the German market for card payments was rather slow, but cash is losing its importance. The potential is huge and the market will grow significantly. Let's do it like the Danes, who already pay by card almost 350 times a year.
Image data source: ECB - Payment Statistics 2022
“A payment card is a real marketing tool, since it has the advantage of being both digital and physical. Unlike purely mobile wallets, physical cards offer status.”
Head of Business Development at Solaris