Checking Card 4.0: What Innovations Will Sparkasse Customers See?

Sparkasse and other banks customers will soon have to prepare for innovations. The checking card should get even more functions. Dortmund-If you have the wallet full of cards and also cash, you probably think about it: That could be easier. This is exactly what you should offer you in the future. Even in-app purchases on the cell phone should be possible.

• Giro card 4.0 should get many functions: Banks change system
• Giro card should get more functions: What changes for bank customers
• Giro card will replace the credit card in the future: It should be easier for bank customers

Giro card 4.0 should get many functions: Banks change system

More flexibility and possibilities, in-app and wallet payments: Most consumers probably know this from providers such as PayPal or a credit card. But the checking card could also offer these functions in the future, as the industry magazine Food Dating (LA) reports. Banks apparently strive for a development in the Giro card 4.0. There are no individual companies behind it, but the so-called banking consortium euro card systems. According to the website, this is a joint venture between German banks and savings banks. The cashless means of payment, which is mostly used in Germany, is to be significantly upgraded together, reports the LA. By 2026, the well-known Giro card, formerly called EC card, is to be developed in three stages to a Giro card 4.0.

Giro card should get more functions: What changes for bank customers

Most customers probably use in-app purchases in apps such as the DB navigator, other local transport apps, delivery sand, taxi programs or so-called mobile games. PayPal is currently the market leader here when it comes to linking payment methods. The practical: Payments can be made without having to leave the app. This function could already take over the common Giro card by the end of 2023, as Oliver Rommel, CEO of Euro card system, explains. Accordingly, in-app payments should soon also be available in the apps of the supermarkets and discounters Lidl, Net to, Edema and even the Payback loyalty system. For customers who are happy to pay cashless, the Giro card 4.0 should offer another advantage: In the future, the card should be integrated directly into cell phone walls as from Google Pay and Apple. At the moment, these functions are still reserved for the sister system Giropay.

Giro card will replace the credit card in the future: It should be easier for bank customers

Furthermore, it should be possible at the end of 2023 to authorize money sums before the actual conclusion of a transaction.

Means: The Giro card can theoretically offer the same advantages of a credit card if you reserve in the hotel or a rental car. These are to be replaced by Debit Card in the summer of 2023 anyway. However, this new payment system is not yet accepted everywhere. The Giro card can also simplify digital cash boys at the end of 2024. By 2026, the bank consortium is planning the link with a so-called Loyalty system. So a separate customer program, in which other advantages can generally be activated depending on the use. We want, and we will be faster, emphasizes Rommel. The new functions should also accommodate the requirements of trade. The systems Mastercard, Visa and Payback are also significantly more expensive for retail.

Giro card not only wants to create relief for customers, but also strengthen its market position. Without modernization, a loss of meaning threatens. Category list: © Wolfgang Maria Weber/Panther media/Imago: Collage: