Summary
- Girocode is the German implementation of EPC QR standard, widely adopted
- Giropay discontinued December 31, 2024; replaced by Wero (EPI)
- Over 1,300 financial institutions offer SEPA Instant payments (highest in Europe)
- Unique three-pillar banking system: Private banks, Sparkassen, Cooperative banks
- Germany processes ~30% of all euro payments; critical for SEPA success
Banking landscape
Central Bank
- Name: Deutsche Bundesbank
- Website: https://www.bundesbank.de/
- Role: Part of Eurosystem, TIPS development partner
Major Banks (2024)
| Rank |
Bank Name |
Total Assets (EUR) |
Type |
| 1 |
Deutsche Bank |
~1,300,000 M |
Private commercial |
| 2 |
KfW Group |
~550,000 M |
State development bank |
| 3 |
DZ Bank |
~619,000 M |
Cooperative central |
| 4 |
Commerzbank |
~460,000 M |
Private commercial |
| 5 |
LBBW |
~333,000 M |
Landesbank |
| 6 |
BayernLB |
~250,000 M |
Landesbank |
| 7 |
Helaba |
~200,000 M |
Landesbank |
Three-Pillar Banking System
Germany has a unique structure:
| Pillar |
Description |
Examples |
| Private Banks |
Commercial banks |
Deutsche Bank, Commerzbank |
| Public Savings Banks |
Sparkassen + Landesbanken |
~370 Sparkassen, 6 Landesbanken |
| Cooperative Banks |
Volksbanken/Raiffeisenbanken |
~700 cooperatives + DZ Bank |
Key Organizations
- Die Deutsche Kreditwirtschaft (DK): German Banking Industry Committee
- Sparkassen-Finanzgruppe: Savings banks association
- BVR: National Association of Cooperative Banks
Payment infrastructure
National Payment Systems
| System |
Operator |
Type |
Status |
| TIPS |
ECB/Bundesbank |
Instant payments |
Active |
| Girocard |
DK |
Debit card network |
Active |
| Giropay |
Banks |
Online banking |
Discontinued Dec 2024 |
| Wero |
EPI |
Pan-European |
Active (July 2024) |
SEPA Instant Payments
- Institutions: >1,300 offering SCT Inst (highest in Europe)
- Adoption Rate: ~2.5% of total volume (2022), growing
- Max Amount: €100,000
- Speed: <10 seconds
- Availability: 24/7/365
Giropay Discontinuation
- End Date: December 31, 2024
- Reason: Shift to unified European payments (EPI/Wero)
- Replacement: Wero
Wero Launch in Germany
- Launch Date: July 2, 2024
- Initial Scope: P2P payments
- Online Commerce: From summer 2025
- NFC POS: Expected 2026
- Features: Instant SEPA transfers, Verification of Payee
Girocard (Debit Network)
- Dominant domestic debit card network
- Used in physical retail
- Linked to bank accounts
QR code standards
Girocode (Primary Standard)
| Attribute |
Value |
| Standard Name |
Girocode (German name for EPC QR) |
| Barcode Type |
QR Code |
| Operator |
Die Deutsche Kreditwirtschaft |
| Standard |
EPC 069-12 |
| Use Case |
Invoices, bill payments |
| Adoption |
All major banks |
Technical Specifications (BCD Format)
| Line |
Field |
Max Length |
Required |
| 1 |
Service Tag |
3 |
Yes ("BCD") |
| 2 |
Version |
3 |
Yes (001/002) |
| 3 |
Character Encoding |
1 |
Yes (1-8) |
| 4 |
Identification |
3 |
Yes ("SCT") |
| 5 |
BIC |
11 |
Conditional* |
| 6 |
Recipient Name |
70 |
Yes |
| 7 |
IBAN |
34 |
Yes |
| 8 |
Amount |
12 |
Optional |
| 9 |
Purpose Code |
4 |
Optional |
| 10 |
Reference |
35 |
Optional |
| 11 |
Remittance Text |
140 |
Optional |
| 12 |
Information |
70 |
Optional |
*BIC required in version 001; optional in EEA for version 002
Sample Girocode Content
BCD
002
1
SCT
DEUTDEDB
Max Mustermann GmbH
DE89370400440532013000
EUR150.00
RINV
Rechnung Nr. 12345
Photo Payment / Smart Transfer
| Attribute |
Value |
| Type |
Invoice scanning |
| Use Case |
Paper invoices, PDFs |
| Banks |
Deutsche Bank, Sparkassen, others |
| Formats |
Photo, PDF, QR code |
Mobile payment apps
| App Name |
Bank/Group |
Girocode Scan |
Photo Pay |
Downloads |
| Sparkasse |
Sparkassen-Finanzgruppe |
Yes |
Yes |
9.0M+ |
| Deutsche Bank |
Deutsche Bank |
Yes |
Yes |
High |
| Commerzbank |
Commerzbank |
Yes |
Yes |
High |
| VR Banking |
Volksbanken/Raiffeisenbanken |
Yes |
Yes |
High |
| Pay (VR) |
Cooperative banks |
Yes |
Yes |
Growing |
| ING |
ING Germany |
Yes |
Yes |
High |
| N26 |
N26 |
Yes |
Limited |
High |
Sparkasse App Features
- Most downloaded banking app in Germany
- Girocode scanning
- Photo payment
- chipTAN QR support
- S-pushTAN integration
Deutsche Bank App Features
- Smart Transfer with camera
- QR code scanning
- Photo invoice capture (PDF, JPG, PNG, GIF)
- Real-time transfers
Third-party payment apps
| App Name |
Type |
QR Support |
Status |
| Wero |
P2P/Commerce |
Yes |
Active (July 2024) |
| PayPal |
Online |
Limited |
Active |
| Apple Pay |
NFC Wallet |
No |
Active |
| Google Pay |
NFC Wallet |
No |
Active |
| Klarna |
BNPL |
No |
Active |
Wero Features
- Launched July 2024 in Germany
- P2P instant payments
- QR code payments (planned 2025)
- Online commerce (summer 2025)
- NFC POS payments (2026)
- Replaces Giropay
Schemes
Sources
Full country report
DE-germany.md