Preferred online payment methods from consumers in Germany 2020

According to a triennial survey involving payment diaries in 2020, Germans preferred SOFORT (Klarna's "Pay Now") more than gift cards. Klarna acquired the SOFORT in-store bank transfer system in 2014, and provides the infrastructure for the company's efforts in 2022 to launch physical payment cards. Digital services from outside Germany were generally popular, as PayPal was preferred significantly more for online shopping payments than credit cards. More than four out of ten respondents who used at least one payment method for online shopping listed the U.S. app as their most preferred one. In terms of buy now, pay later or BNPL - the most significant development in digital payments since the coronavirus pandemic - Germany is difficult to map out clearly: Instead of BNPL, the country uses Sofortüberweisung - a payment system which acts as an intermediary between the buyer and the online shop. Instead of the consumer buying the product him/herself, the company Sofort - which belongs to Klarna - pays on the consumer's behalf, in return for online banking information.