Banks and savings banks announce the end: Two long-standing payment options are now being discontinued

Created: 2022-01-20 10:22 am

By: Julia Schöneseiffen

Banks and savings banks will no longer rely on the GeldKarte and girogo.

(Iconic image) © Fotostand / IMAGO

After many years, banks and savings banks say goodbye to two payment options.

Frankfurt – Nowadays, and especially during Corona times, paying by card, even for smaller amounts, is part of everyday life.

In 1996, however, things looked very different – ​​both technically and in terms of the payment mentality.

At that time, the German banking industry finally brought the “GeldKarte” onto the market.

This is a system with a prepaid option that enables small amounts to be paid by card.

For example, for payments at machines, in shops and other places where small amounts have to be paid.

But the time of the GeldKarte is over.

Banks and savings banks no longer rely on GeldKarte and girogo

In addition to the GeldKarte, girogo will also soon be history.

All cards of the two payment systems are to be exchanged by 2024, according to EURO Kartensysteme GmbH.

The contactless variant of GeldKarte called girogo came onto the market in 2012 and also works with a prepaid credit.

The additional chip on the card also enabled automatic topping up at bank terminals or when paying.

Both systems have the problem that the card has to be loaded beforehand.

Although this also happens with girogo directly when paying, it can happen that unused money remains on the prepaid card or that the payment process is lengthened as a result.

According to the banks, customers hardly use the systems anymore.

Girocard has replaced GeldKarte and girogo

Instead, the Girocard has become the payment method of choice.

In 2020 alone, 5.5 billion payments were made with the girocard.

For this reason, bank and savings bank cards will no longer be equipped with GeldKarte and girogo functions in the future, according to EURO Kartensysteme GmbH.

The GeldKarte or girogo function can currently still be used on existing cards at all active acceptance points.

Alternatively, the prepaid credit of a girocard loaded on the chip can be unloaded at the ATM of the respective card-issuing bank.

By 2024 there will no longer be any cards with the two payment functions.

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