Apple Pay Growing Fast At Saving Banks In Germany
In the beginning, there was a heated discussion about whether they wanted to participate at all, but now the business is booming: the savings banks can report that a large number of customers like to use Apple Pay. The number of users is constantly increasing and the service is expanding.
Apple Pay at savings banks booming now with sluggish start
The year is 2019, the savings banks are trying to set up their own app for smartphone payments under the name “Mobile Payments”. After the announcement of Apple Pay for Germany, the skeptical analysis follows hastily: implementation is only possible for savings bank customers if Apple makes significant changes. Then, a few months later, there was a change of heart and a concrete commitment: savings banks will support Apple Pay. After this start-up problem, the savings bank can now draw up a very positive interim balance approximately two years later. In 2021, the number of Sparkasse customers using Apple Pay to pay with Girocard or credit card rose to 2.5 million. Compared to last year, the first year of full availability, this is an increase of another 1 million users.
Like the Sparkasse itself analyzed, In particular, the increasing usability of Apple Pay as a means of payment in everyday life is seen as the driving force behind its development. “This growth is due in no small part to the fact that savings banks and Apple are offering the use of Apple Pay on more and more channels and devices.”
More and more providers
For the savings banks, this results in a clear pattern that can be followed in the further expansion of the Apple Pay offer. An important step in this regard was the possibility introduced in July last year to be able to use the digital Girocard in Apple Pay as a means of payment in apps and on the Internet – it is emphasized that this implementation is “the first group of institutions that German users”. For the foreseeable future, Sparkasse sees major benefits in increasing the number of retail and service businesses that accept Girocard payments via Apple Pay in their applications and stores. Other than the new partners Uber and Uber Eats, no names are mentioned here.
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