Germany Mobile Payments Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Germany Mobile Payments Industry Overview

Due to the presence of many competitors, the German mobile payments market looks to be fragmented. To attract more consumers in the area, major participants in the German Mobile Payments Market are using techniques like developing innovative, secure services, offering cash back, and forming partnerships. Fintech companies are also emerging in the country which is making Germany's Mobile Payments Market even more competitive.

• June 2022: Throughout 18 locations, including Germany, the Klarna App offers a digital Loyalty Card space. The new Loyalty Card function has officially launched in the Klarna App, according to the top global retail bank, payments, and shopping service, Klarna. This enables app users to save and access digital versions of their physical loyalty cards. Without having to carry plastic alternatives when buying in-store, they can then accrue all points and rewards at any merchant.
• May 2022: The German consulting firm FINCON Unternehmensberatung GmbH, a leader in digital transformation projects for the banking and insurance industries, has announced that REPLY a global leader in the sector has entered an agreement to purchase 100% of the business. The basic systems and processes used by the financial services sector, such as mobile banking, payments, core banking, internal control systems and regulatory compliance, BIPRO, and insurance systems, are the focus of Hamburg-based pure consulting firm FINCON.
• June 2022: Germany has opened a new antitrust investigation into Apple's "App Tracking Transparency" privacy framework. The European Commission is currently looking at Apple Pay and its music streaming service as part of additional antitrust investigations.