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Make cashless payments with Smartphone-payment service Apple Pay in Germany started

Four years after the launch of the iPhone payment service Apple Pay in the USA is the Service since Tuesday, also in Germany available. The group freely switched, the function in the Morning. In the case of Apple Pay, you can pay in the Store with the iPhone or the Apple Watch, such as a credit card. To do this, the device at the cash register to the Terminal.

The Treasury technology must be able to support contactless payments - approximately 820.000 Terminals in Germany has already been converted accordingly. You can also pay with Apple Pay, similar to with services such as PayPal for Online purchases.

industry experts expect the Premiere of Apple Pay in Germany, important impulses for the Pay with the Smartphone. Previously, Google had introduced in the June payment system with Google Pay. Partners include Apple, the largest credit institution of the Federal Republic of Germany, the Deutsche Bank, and the banks and financial service providers, N26, boon, HypoVereinsbank, Hanseatic Bank, Fidor Bank, bunq, American Express, Santander and Comdirect Bank. For the time being, not important banks such as savings banks and cooperative banks, which rely on their own Payment Apps. This offer to Pay contactless, however, is only on Smartphones with Android operating system, because you can't access on the iPhone to the NFC radio chip.

The launch of Apple Pay in Germany was the group's CEO Tim Cook at the beginning of August for "later in 2018" has been announced. Apple Pay is so far in 31 countries. Also in many other European countries - for example France, Switzerland or Spain - Apple has introduced the service already.

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Germany is a very special market. The Motto here is "Cash is king was particularly long." Statistically, that is no longer true. According to a study by the Deutsche Bundesbank, the cash ratio in 2017, a decrease in money transactions for the first time under the 50-percent threshold: Only 47.6 percent of the payments were settled in cash.

In the case of card payments with the Girocard comes at the same time, mostly for use and not credit cards. To integrate a Girocard in a Smartphone-payment service, it means more effort. To Start in Germany, only credit and debit cards will be integrated in Apple Pay.

Germany-Apple Pay to be better positioned than other countries

Meanwhile, credit cards are accepted in this country, but also to very many places. This also has to do with the policy. By the end of 2015, the European Union decided to cap the so-called "interchange fee" in the case of card payments, and to reduce significantly.

The fee must not be in Debit by more than 0.2 percent of the payment amount. In the case of credit cards, the amount is capped at 0.3 percent of the total payment; previously it was part of several percent. After the entry into force of the regulation, the penny Pincher of the German economy - including the popular discounters, such as Aldi, Lidl and Penny changed their course and began to accept credit cards.

in the Meantime, the upgrade to Terminals that support contactless payments via the NFC radio is advanced, far. Thus, Germany is the Start of a service such as Apple Pay - at least the dissemination of the acceptance was far - better equipped than many other countries.

The Comdirect Bank, offers since the summer of the similar functioning of the competitive service, Google Pay, is pleased with how he arrives at the customer. "More than half of the registered customers in the case of Google Pay uses the service regularly, i.e. at least five Times a month," says Bank chief Arno Walter.

At the same time, the Service will be used more and more in the Store than Online payments. "I think that will establish mobile payments in the cash country, Germany", Walter is confident. You've noticed in the past few months that Apple have been waiting for customers on the launch of the iPhone payment service.

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For the banks to Pay using a Smartphone even more security: In the case of Google Pay he know so far not a single case of fraud, says the Bank chief. The Comdirect Bank is planning to integrate the Girocard in Google Pay and Apple Pay, but it is a complex process. (dpa)

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