With big eyes looks at the saleswoman on the counter of the McDonald's store on the Berlin S-Bahn station Neukölln: "What did you say? How do you want to pay?“, she asks irritated and puts the forehead in wrinkles. "With Google Pay," says the customer, and keeps your Android-Smartphone under the nose.
"No idea, try it." The seller enters the price, the customer is putting your phone on the Terminal. Beep. Paid. The confirmation Push notification appears on the Display. All in real time.
In the United States or Asia, the seller would have reacted differently. There Smartphone payments are normal. Only in Germany, every citizen carries around an average of 107 Euro and makes 74 percent of its business in cash. For comparison: In the USA there were in 2015, according to a survey, only 32 per cent.
The worldwide unique German love for cash can also be used with the Trauma of the post-war period, explain. The memory of Hyperinflation and the fall in value of inherited through the generations. Even today, you want to hold something in the Hand. Even if it is in the end only colorful paper.Half of Sweden pays mobile
Nevertheless, payment service providers such as Adyen and Wirecard will see a large growth market. "Mobile payment offers a huge added value. It will prevail here too,“ says Wirecard CEO Markus Braun. Both his company and Adyen enable merchants, digital payment methods to offer online and in-Store.
Both companies are now worth more than Commerzbank. Wirecard is a you kick the end of September, even from the German stock index. A nearly 150-year-old Bank has to make way for a FinTech. The Signal is clear. But 75 percent of its revenue Wirecard still abroad.
Alexa von Bismarck, the issues, knows the local market. It is Adyen, the Germany Manager of the service provider, whose name most know only from your account statement. Because the Dutch wrap around payments for Netflix, Spotify, or from delivery hero. "The cover is missing in Germany, and the market is highly fragmented," says the 36-Year-old.
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"As a dealer I have a choice between a number of payment solutions. And as a customer I can not use for example, Google will Pay even if my Bank cooperates.“ So, the savings Bank rejects, for example, a collaboration with the Tech-sizes, because it brings its own Payment App on the market.
Easier, the Swedes have it. The most pay for your bus rides, purchases, and cigarettes through a single App: Swish. It is the most common form of Payment is and works similar to PayPal. Even street musicians gather there QR-Code-scan instead of coins in the guitar case. In Stockholm's inner city, the majority of Bank branches have no cash, and shops do not accept it.
The national excitement about the remains. In Germany, the former German Bundesbank Board member Carl-Ludwig Thiele in the year held in 2016 brand talk for the cash, because in the population, the concern about wide had made.
The AfD to the rescue of cash fixed even wrote in their party program. And the then Finance Minister Wolfgang Schäuble was heavily criticized, because he wanted to establish an upper limit for cash transactions to the crime. Drug trafficking and tax evasion, need for anonymity, which can only offer cash.
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The Columbian drug billionaire Pablo Escobar hoard in the eighties, so much of it that he spent alone 2500 dollars a month for the rubber bands, with whom he pooled his Bills. A complete abolition of cash would, however, also people who do not have access to Bank accounts, the existence of a basis. But is that really so?
Finally, free the future, traditional banks play in the cash anyway. You believe the Display of the mobile Bank, N26, stand for "Bullshit". Founder and CEO Valentin Stalf under neither branches nor ATMs. Its customers lead a digital account. "The banks today are focusing too much on financial products. In the long term, you have to be a problem solver,“ says the 32-Year-old.
"most of The banks give no value from the promise of more." N26 want to be less of a Bank as a platform. In the App about partners insurance, buy shares and take out loans. It provides the main mobile payment systems. But only five cash withdrawals in a month are free of charge. Cash is expensive and in Stalfs universe is not relevant to size.
not for Wirecard CEO Markus Braun, the supported N26 at the Start of 2015. The doctorate in business Informatics is thinking long-term. Already at the beginning of the 2000s, he focused on digital Pay. At the time, Wirecard offered his services, especially Online Casinos and adult sites, which dominated the Internet.
"The Pay will be transferred into the Invisible. Everything is run on biometrics. Fingerprint, face recognition,“ explains brown. "Your Smartphone will check in to automatically Load into a virtual POS system."
Amazon has been testing such a thing. In the three branches of the Tech group in Seattle, and there are no cash registers, cameras, and Sensors. The App knows which Goods which the customer takes from the shelf and settles automatically.
you Think of the queue at Aldi or Edeka on a Saturday afternoon, the Treasury lots of the future, very sexy. Markus Braun thinks. A virtual place is from the supermarket. "We believe in dynamic prices in retail stores. As you know it from Online stores. And if you want to buy an expensive product, can you Finance it directly through a real-time credit.“
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The extended Online commercial. If the customer takes a product from the shelf, showing the Smartphone in what colors and forms it is available, and makes appropriate purchasing suggestions. Customers who liked this product also purchased ...pay Just with the Smile
all That could implement his company, says Wirecard CEO. Only in the mind of the consumer had not yet arrived there. But all offer a clear value, set at some point.
In China, it has already reached that Level. The cash transactions have fallen within a few years, from 61 to 37 percent, and the payment process is virtually invisible. An example: KFC. The Fast-Food chain lets your customers in Hangzhou with a Smile in front of the order of the terminal numbers. By face recognition on the service of the Alibaba, a subsidiary of Ant.
And the Messenger service WeChat is the most popular payment method is now available. What makes the mother company Tencent, with its vast treasure trove of Data, more powerful than any other Bank. Equally strong has put Alibaba's payment service Alipay.
Perhaps it will open up in 20 years a Bank account at a Bank, but a platform such as Alibaba or Amazon. Amazon boss Jeff Bezos revolutionized currently in more markets than any other Tech company. Amazon Pay can be used only with a Bank account.
However, experience has shown that Bezos offers innovative Services in the long term. The Bank of the future could be the platform that organizes our whole life. Data instead of securities. Whether such an approach in the financial sector works, will show the coming decade.
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at Least all of the major Digital Player want to play. Even the ailing platform Facebook allows its users small amounts of money by Messenger, transfer, and tests a more complete Form with your Chat-application WhatsApp in India. However, the recent data scandal of the social network delayed the global Launch of WhatsApp Pay.
especially in Germany, there is a fear of the Surveillance, which would result in a digitalization of all transactions. "Cash only ensures that they can be independent of the services of a third party to pay at any time," says Klaus Müller, Executive Director of the consumer Federation.
In the case of Adyen you can see in it no Problem. Safety belongs to product promise. Even if a little bit of risk always remains. In the case of each payment form. At the end of simplicity suggests the fear anyway. It even comes in the German Mittelstand, in the Adyen more and more customer wins. The cashless society seems to be possible.
Even if this could be costly for the Germans, who are reluctant to go into debt. There, where money is digitized, the private debt is higher. The numbers on the Display to feel different than the 50-Euro note, which is suddenly gone.
For Markus, brown, and Alexa von Bismarck, a vague memory. Both have only a couple of Euro plug. For the case that it is not really necessary. Until we pay at the Kiosk, the Terminal deep in the eyes.
The most popular Paid Apps,
PayPal: do over 200 million customers their Online payments made via the American service.
Apple Pay: iPhone owners have only a few options. To Alipay, Apple only allows its own System.
Cash: Seven million users the App has the FinTechs Square, which was founded in 2009 by Twitter boss Jack Dorsey.
Google Pay: The payment system, the Tech company is in 19 countries, available since June 2018 in Germany.
Alipay: Alibaba's service has a share of 54 percent of the Chinese Mobile Payment market. Tencents on WeChat.
Samsung Pay: On the Devices of the world's 34 million users, the Payment App to be running.
Alexa von Bismarck, 36Vom degree in business administration in the financial industry. Since may, she heads the Berlin office of Germany-transactions of the payment service
Adyen2006 in Amsterdam founded, the payment service today, a stock market value of 20 billion euros, surpassing in mid-September for the first time, the Deutsche Bank
Markus Braun, 49, CEO, chief technology officer and largest private shareholder. The doctorate in business Informatics is considered to be Wirecards Mastermind. The Wiener gets daily, around 900 E-Mails
Wirecard As a Bank, only better. Since 1999, the FinTech helps traders to make Online payments. After a year in which the share price more than doubled, Wirecard recorded at the end of September in the Dax
Valentin Stalf, 32, After studying in Vienna, St. Gallen and Tokyo and the crucible in the case of Rocket Internet, the 32-year-old Viennese N26 in Berlin
N26Die mobile Bank founded since 2015 financial products in an App that is more reminiscent of a Lifestyle product. You want to be a platform, not a Bank, and is currently one of 850000 customers. The investors include PayPal founder Peter Thiel, and the Chinese group Tencent
The most popular Paid Apps
PayPal worldwide, done over 200 million customers their Online payments made via the American service
Apple PayiPhone owners have few options. To Alipay, Apple only allows its own System to
cash seven million users the App has the FinTechs Square, which was founded in 2009 by Twitter boss Jack Dorsey
Google PayDas payment system, the Tech company is in 19 countries, available since June 2018 in Germany
AlipayAlibabas service a share of 54 percent of the Chinese Mobile Payment market. Tencents WeChat is catching on
Samsung PayAuf the Devices of the world's 34 million users, the Payment Appcashless runs contactless FinTech Wirecard money banks Pay