Debit card problems in Germany: What banks and consumers should know

Debit card problems in Germany: What banks and consumers should know

According to a report by www.zeit.de, many consumers in Germany have reported problems accepting debit cards. This not only affects retail, but also authorities, hospitals, parking ticket machines and supermarket checkouts. Even some banks are having trouble with debit cards. The Federal Association of Consumer Organizations (vzbv) received 1,745 problem reports after they called for it.

The two companies behind the debit system, Mastercard and Visa, are working on replacing the previous payment systems Maestro and V-Pay with the new function. However, many small retailers are refusing to use the new system because the fees are higher compared to the old system. The costs can double or be even higher, depending on the provider through which the payment terminals are rented. This leads to criticism of the banks' information policy, which has raised excessive expectations about the capabilities of the cards.

Visa and Mastercard emphasize that acceptance has increased in Germany and are working on making the cards also accepted by the remaining small and micro-retailers. The new debit cards were introduced because previous payment systems on the Internet were often not accepted.

Difficulties in accepting debit cards may create a further divide between small retailers and the large payment companies. This divide could have a negative impact on the market and consumers, particularly if debit card usage continues to be subject to higher costs and acceptance challenges persist. It is therefore crucial that payment companies and banks find solutions to address acceptance issues and ensure costs are affordable for small retailers.