Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Money card
The Geldkarte (prepaid card) was developed by the German banking industry, Zentraler Kreditausschuss (ZKA), as a national e-money procedure with multilateral use. In Germany, the Geldkarte is usually integrated into the bank customer card. The Geldkarte can be loaded with up to Euro 200.00 via PIN from the current account. When using a Geldkarte, the card amount is always automatically reduced by the amount currently being paid.
The end for the Geldkarte
The Geldkarte ultimately failed to gain acceptance and is now being supplanted by contactless payment with cell phones. Most retail partners announced their exit from the system, and the last cards issued will be valid until 2024.