Germany

Germany adopted SCT Inst in 2017, gaining access to an instant payments scheme that provides euro transfers not only among participating financial institutions in Germany but also with any participating financial institution in Europe. Despite this regional link being in place, instant payments represent only a small part of total payments volume and spending in Germany. In 2023, instant payments accounted for a 3.5% share of total payments volume, whereas other forms of electronic payments represented 66.6% and paper-based payments 29.9%.

Over the next five years, the main trend in the market will be the growth of instant payments as cash slowly declines. With Germany being a cash-preferring market, the clear opportunity for instant payments in the market is to take advantage of the decline in cash usage. The new EC Mandate on instant payments is expected to accelerate adoption in the near term.