What’s next for the German payments market?

The “What’s Next for the German Payments Market 2024” report provides an in-depth analysis of upcoming changes in Germany’s payment landscape, focusing on key trends and strategies for payment service providers (PSPs) and merchants. With Sofort being integrated into Klarna and giropay set to phase out by the end of 2024, businesses must act swiftly to optimise their payment systems.

To stay competitive, the report recommends that businesses adopt a tailored payment strategy that aligns with local preferences, minimises conversion risk, and enhances the user experience. PSPs and merchants are urged to capitalise on this period of change by integrating trusted payment methods and optimising the customer journey for higher conversion rates.