Collect Payback points with Girocard: What does the cooperation mean for the savings banks?

Collect Payback points with Girocard: What does the cooperation mean for the savings banks?

According to a report by stadt-bremerhaven.de, the Sparkasse banks are planning a cooperation with the Payback bonus program for 2025. This cooperation should enable customers to collect Payback points directly when paying with the Girocard. The negotiations were conducted by a service provider from the Sparkassen-Finanzgruppe, and the collaboration has now been contractually approved. However, the cooperation will only start in practice from 2025 as implementation takes time.

It is believed that around 250 to 300 of Germany's 353 savings banks want to incorporate the payback function, although regional savings banks can decide for themselves whether to participate. For savings bank customers, this means that they no longer need a separate Payback card and automatically collect points when they pay with their Girocard.

The savings banks' intention to increase the attractiveness of the Girocard is obvious, as the card is rejected by some customers and direct banks as a German isolated solution and is sometimes only offered for an additional charge. However, the question is also raised as to whether the Girocard still has a great future.

For merchants, however, paying with the Girocard has advantages, as the fees they incur are significantly lower than when paying with debit cards from Mastercard and Visa or credit cards.

The cooperation between savings banks and Payback has the potential to increase the attractiveness of the Girocard, especially for customers who already use the bonus program. The integration of the Payback function could promote the use of the Girocard and thus increase its acceptance and distribution. This could have a long-term positive impact on the Girocard's image and the savings banks' customer loyalty.

The possibility of collecting Payback points directly when paying with the Girocard could also strengthen the market position of the savings banks as it creates an attractive additional offer. The collaboration with Payback could therefore help in the long term to improve the competitiveness of the savings banks and attract new customers.