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Germany
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during 2025-2028
Popularity of e-commerce payment methods
Extend your reach
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Open banking in Germany is transforming the way consumers and businesses conduct transactions, enabling secure and efficient bank transfers through innovative technology. By allowing users to authorize third-party providers to access their bank account information, open banking facilitates seamless payments directly from bank accounts. As of 2024, the adoption of open banking is rapidly increasing, with projections indicating that the market could exceed $130 billion by 2030 and user numbers surpassing 100 million.
speed
Reasons for Popularity
Rapid Adoption: Open banking adoption in Germany has surged since the implementation of the EU's Payment Services Directive 2 (PSD2) in 2018. As of 2023, nearly 950 fintech companies operate in the country, driving innovation and expanding the open banking ecosystem, which is projected to account for 5% of total payments by 2028
Enhanced User Experience: Open banking facilitates instant account-to-account (A2A) transfers, allowing users to complete transactions quickly without the need for manual IBAN entry. This streamlined process not only improves transaction speed but also reduces friction, making it a preferred choice for consumers who value efficiency
Increased Security and Trust: Open banking is built on robust regulatory frameworks that prioritize consumer protection and data security. The integration of standardized APIs enhances trust among users, encouraging them to engage with open banking solutions confidently
