The Bundeskartellamt has approved the joint payment system introduced by Deutsche Kredirtwirtschaft (German Banking Industry Committee).
The four banking associations Bundesverband deutscher Banken, Bundesverband der Deutschen Volksbanken und Raiffeisenbanken, Deutscher Sparkassen- und Giroverband and Bundesverband Öffentlicher Banken are working together with Commerzbank AG, DZ Bank AG and Deutsche Bank AG to standardize the digital payment systems of Deutsche Kreditwirtschaft. The project, which is already known to the public as "#DK" or "Xpay", aims to offer a standard product covering the various payment channels in retail (point of sale), online sales (e-commerce) and payments between individuals via applications (P2P payments). Accordingly, as the first step, the current e-commerce payment methods paydirekt and giropay as well as the customer-to-customer payment system Kwitt are to be merged into a joint payment brand.
The German authority has raised no objections to the first step and The Deutsche Kreditwirtschaft will inform the Bundeskartellamt about further steps for evaluation.
(Bundeskartellamt – 17.12.2020)
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