Cashless payment transactions

from Wikipedia, the free encyclopedia

Cashless payment transactions (or cashless payments ) is in the economy a portion of the payment transactions in which the transfer of cash between business entities by Buchgeld effected without cash is required.

General

All payment transactions consist of cash payments , half-payable payments and cashless payments. In the cash is cash between payer and payee replaced while has at halbbaren payments either the payer or the payee of cash and cash deposit in or deposit money by cash payout transforms deposit money in cash. Cashless payment transactions require bank details for all economic entities involved so that they can make cashless payments through a bank account . Economic subjects include private households , companies , other associations of persons and the state and its subdivisions ( public administration ).

history

After the Persian Wars between 490 and 449 BC The leading trapezites in banking (today still in Greek τραπεζα trapeza for 'bank') accepted deposits and made payments by transferring them from one account to the other. The Roman counterpart to the trapezites were the Argentarii . They mediated payments by rewriting in the business books , rewriting ( Latin perscribere ) assumed the meaning of "payment". The act of instruction ( Latin delegatio ) was the starting point for payments in Roman law .

The well-known in Islamic countries hawala financial system has already been documented in 1327, the smaller by the coexistence, identified himself tribal law embossed areas and on the confidence ( in Arabic حوالة, DMG Ḥawāla ) of the parties involved. First banks with exclusive payment transactions arose with the established in 1407 "Casa di San Georgio" in Genoa , the first state clearing banks were in 1587 Venice resulting "Banco di Rialto", which in 1592 Milan , founded Banco Ambrosiano and the "Banco Giro, founded in Venice in 1619 ", Which for the first time contained the word" Giro "in its name.

The Frankfurt Reformation found in 1578 that the mere instruction was not a payment. The payment is therefore not already effected with the obligation of the instructed, but only with his actual performance. This can still be found today in § 788 BGB . Following the example of the Italian banks, the Amsterdam exchange bank was created in January 1609 , followed by the Hamburg bank in March 1619 . It was a pure payment bank , which was followed in 1621 by the Nuremberg Banco Publico . The Reichsbank , founded in January 1876, took over the Hamburger Girobank as a branch . The Reichsbank board member Richard Koch understood a giro payment to mean the mediation of payments among customers through write-offs and write-ups in the bank books on the basis of the deposits.

In 1885, the legal scholar Georg Cohn contributed to the legal classification of cashless payments with the first works on payment transactions law and classified the giro contract as a prerequisite for giro payments, bank balances are the basis of every giro payment. When the Reichsbank was founded in January 1876, it also took on tasks in the field of cashless payment transactions in addition to sovereign tasks . The messengers of the credit institutes met at some central locations and offset the collected checks and transfers with one another; the fractional amounts were settled via the Reichsbank accounts that the credit institutes had to keep at the Reichsbank as part of the large settlement . Transfers to other locations were then offset within the Reichsbank by physically sending the receipts. After the establishment of the Bank deutscher Länder and its legal successor, the Deutsche Bundesbank with its local branches , the state central banks, direct settlement between banks, with the exception of the Hamburg settlement, was abolished in 1949. All amounts have been settled with the state central banks.

The economic crisis of 1907 in Germany gave an impetus to the introduction of cashless payment transactions in order to make the money supply of the economy more independent of cash. For this purpose, the various banking groups that have grown over time ( savings banks , Raiffeisen banks / Volksbanks, major banks , private banks ) built their own giro networks from 1908 onwards, in which payment transactions by top institutions ( giro centers , cooperative central banks) could be processed quickly. Johann Christian Eberle had recognized the advantages of a Sparkasse's own, closed payment transaction network and proposed the establishment of Girozentralen as a central clearing house in every state in Prussia. At Eberle's initiative, the Giroverband Sächsischer Kommunen with 151 members was founded on October 5, 1908 ; the actual giro traffic began on January 2, 1909 with the first German giro center, which started giro traffic for 143 giro registers in Dresden. The importance of the payment transaction function for Landesbanken has increased since 1910 , as they became the central clearing house for the acceleration of cashless payments. Since February 1911, the Stadtsparkasse Köln took over the function of the Girozentrale in the Rhine Province. On June 20, 1914, the Rheinisch-Westfälische Sparkassentag in Cologne decided to use the Landesbank der Rheinprovinz instead of the Stadtsparkasse Köln as a giro center. As a result, other giro associations were founded, and on October 26, 1916, 12 giro associations merged to form the "German Central Giro Association". From 1923 onwards the merger of Landesbanken operating in the same region with pure giro centers began, which led to the creation of the "community banks ".

In order to be able to work with the transfer amounts during the mailing period of the receipts yielding interest ( float ), larger amounts were kept in the own branch network for as long as possible. The savings banks made use of this, the Landesbanken or Girozentralen , the cooperative sector of Volksbanken and Raiffeisen banks used the cooperative centers. The postal check offices, as legal predecessors of the Postbank , also kept the amounts in their own network.

Payment transactions in the EU member states were standardized by the payment services law of October 2009. It led to Europe-wide uniform payment transactions , time specifications for order execution and rights of withdrawal . As a result of the European Payment Area (SEPA) project , a Europe-wide uniform payment area for cashless payments in euros began in February 2014 , although the participating areas extend far beyond the euro countries. The revised Payment Services Directive (PSD2), which takes online and mobile payments into account, has been in force since January 2018 .

According to business journalist Norbert Häring , the international Better Than Cash Alliance initiative is particularly promoting the global implementation of cashless payments with the promise of wanting to eradicate poverty. He criticizes: "Especially for the poor and the poorest in rural areas there is no technology that enables everyone to participate in the economic process as easily as cash."

Automation steps

With the introduction of the bank sort codes and the agreement of the central associations of the credit institutions on a uniform transfer form with a special area for OCR- compatible labeling, the transfer receipts and checks became machine-readable and machine-sortable on special systems, and the receipts were also automatically filmed. However, the receipts still had to be physically transported to the payee's institute or, in the case of checks, to the payer's institute.

The postal check offices did not take part in this document standardization for several years.

The data carrier exchange procedure (DTA) was also created for customers . With this data carrier exchange, the creation of receipts became superfluous. The transfers or direct debits were submitted on data media such as magnetic tapes or diskettes for further execution.

From the mid-1990s onwards, all other information in the subject lines of the transfers was either automatically scanned or entered manually. The document transport could be omitted. The data from the transfer was either transmitted within the institute sector or to the Bundesbank via dedicated lines and processed further.

Historical development in Switzerland

Cashless payment transactions already existed here before the Swiss National Bank began its activities in 1905/1906. In 1905 she received a mandate to simplify this cashless payment transaction. She implemented this using a decentralized transfer system. Then, during the global economic crisis , Switzerland joined an international clearing system.

functionality

Cashless payment transactions usually take place via credit institutions and concern payments in the form of book money between current accounts , also known as current accounts , in which no cash is moved. The client's account is debited with the payment amount, the recipient receives a corresponding credit on his account. The credit institutions provide the transfer service and usually receive a fee credit, possibly as part of a flat-rate account management fee.

When money moves from one bank to another, this is done via the so-called Giro networks or current circuits . In Germany there are five Gironnets, which in turn are also networked and also process payments abroad

Payments and foreign payment orders within the EU are included in the national balance of payments statistics from an individual amount of EUR 12,500 , additional information on the underlying transaction is then required for national statistics. Such orders are usually processed between the banks via SWIFT or TARGET .

The procedure for the creation of the European Payments Area (SEPA) has existed since January 2008, which removes the boundary between national and European transactions for bank customers in euro payments and standardizes all transfers (also domestically) in the future.

Payment types

Cashless payment methods at a glance
process Billing Checked creditworthiness
? 		costs Others
check Check form + signature Offline No no The exception in business with private customers after the elimination of the EC , but still common among known business partners.
Transfer Transfer order + signature On-line Yes no Often also via online banking .
Direct debit Girocard + signature Offline No no Based on trust (regular customers have lower amounts).
Online
direct debit 		Girocard + signature On-line No € 0.05 (lock file query) Only query after blocking (no credit check). Until December 31, 2006 via PoZ , since then only through participation in KUNO .
Electronic cash Girocard or
bank customer card + PIN 		On-line Yes 0.3% of sales (min € 0.08) For payments in the shop / at the counter.
Credit card Credit card + signature On- and offline Yes (as agreed with the acquirer) Spread worldwide.
Money card charged money card Offline Yes 0.3% of sales (min. € 0.01) Guarantee because the card has been topped up beforehand.
Debit card Debit card + PIN or NFC debit card∞ On-line Yes (as agreed with the acquirer) Newly issued cards usually contain an NFC chip.
Mobile payment Mobile app + authentication On-line Yes (as agreed with the acquirer) Extended customer loyalty opportunities .

For the specified costs for the entrepreneur (e.g. seller in retail), additional bank charges for bookings on the account of the debtor and the account of the payee may have to be taken into account.

Order placement

The usual way of placing an order in Germany is the personal assignment in a branch of the bank, or the assignment via the electronic banking business .

There are currently the following basic order types in classic payment transactions:

  • Transfer (a sub-type of transfer is e.g. the standing order , in which a regularly recurring payment is automatically carried out by the bank)
  • Check (cash check, crossed check and order check, the guaranteed EC check has been abolished)
  • Change
  • Direct debits are created on the basis of a contractual relationship by the payee and run from his bank to the bank of the debtor , whose account is debited with the amount.

In addition to these basic types, there are a number of electronically based payment options such as the GeldKarte , debit cards - and credit cards . In addition to personal order processing in a branch , cash can be obtained from ATMs as well as cashless payment at cash registers that are integrated into the electronic cash system.

Ultimately, card payments also use one of the basic payment methods mentioned above - the amounts are usually collected from the cardholder via guaranteed, non-returnable direct debits and debited from their account. In addition to the function of the cards as cashless means of payment, they are mainly used to obtain cash and, in the case of credit cards, for short-term credit use.

Advantages and disadvantages

Benefits for account holders

  • quick and easy payments
  • Security through low cash holdings

Disadvantages for account holders

  • Transaction fees
  • Recordability / traceability of money transactions, also for the purpose of monitoring
  • no immediate payment
  • If necessary Withdrawal fees at ATMs and ATMs

statistical data

Data on cashless payment transactions in Germany are provided by the Deutsche Bundesbank and the Central Credit Committee. In 2010, € 64.5 trillion was transferred cashless in Germany. The vast majority of cashless transactions (measured in terms of turnover) are transfers.

sales Share 2010 Share 2016
Transfers 81.0% 91.6%
Direct debits 18.3% 7.2%
checks 0.4% 0.3%
Debit cards 0.2% 0.3%
Credit cards 0.1% 0.2%
Transactions Share 2010 Share 2016
Transfers k. A. 29.6%
Direct debits k. A. 50.6%
checks k. A. 0.1%
Debit cards k. A. 14%
Credit cards k. A. 5%


Trivia

A largely cashless overall economy emerged during the supply crisis and hyperinflation in Venezuela from 2018, when cash in the national currency Bolivar had almost disappeared from the everyday life of the population.

See also

literature

Web links

Individual evidence

  1. ↑ Otto Gradenwitz, On banking and business in the papyri of the Roman era , 1903, p. 258, note 2
  2. ↑ Willy Schulthess, legal nature of giro contract and giro payment , 1910, p. 9
  3. ↑ Spies, ZVglRWiss 1972, p. 18
  4. ↑ Alexander Djazayeri, The History of Giro Transfer , 2011, p. 26
  5. ^ Johannes Conrad / Ludwig Elster / Wilhelm Lexis / Edgar Loehning (eds.), Concise Dictionary of Political Sciences , Volume IV, 1900, p. 728 f.
  6. ↑ Georg Cohn, Die Girozahl , in: Wilhelm Endemann (Ed.), Handbuch des Deutschen Handels-, Maritime- und Wechselrechts, 1885, p. 1047
  7. ↑ Georg Cohn, Die Girorechner , in: Wilhelm Endemann (Ed.), Handbuch des Deutschen Handels-, Maritime- und Wechselrechts, 1885, p. 1050
  8. ^ Hans Pohl, Economy, Enterprises, Credit System, Social Problems , Volume 1, 2005, p. 979
  9. ↑ Adalbert Dick, The entanglement between savings banks and Girozentralen , 1959, p. 19
  10. ^ Hans Pohl, Economy, Enterprises, Credit System, Social Problems , Volume 1, 2005, p. 980
  11. ^ Hans Pohl: Economy, Enterprises, Credit System, Social Problems , Volume 1, 2005, p. 972
  12. ↑ Hans Pohl: Die Rheinischen Sparkassen , 2001, p. 112
  13. ↑ Melchior Palyi / Paul Quittner, Handwortbuch des Bankingwesens , 1933, p. 723 ff.
  14. ↑ https://www.betterthancash.org/about
  15. ↑ Norbert Häring : A well-kept, open secret: Washington is behind India's brutal cash experiment . norberthaering.de, January 1, 2017.
  16. ^ Dominique Baumann: Payment transactions. In: Historical Lexicon of Switzerland . May 11, 2015 , accessed June 5, 2019 .
  17. ^ Hermann May: Wirtschaftsbürger-Taschenbuch . Oldenbourg Verlag, Munich 2003, ISBN 3-486-27237-3
  18. ↑ Types of Gironnets ( Memento of September 28, 2007 in the Internet Archive ) (PDF; 22 kB)
  19. ↑ Cashless payment transactions - sales. ( Memento of 23 August 2012 in the Internet Archive ) Data: Deutsche Bundesbank and Central Credit Committee (ZKA); published by the Association of German Banks .
  20. ↑ Banking Association Statistics for Cashless Payment Transactions 2016
  21. ↑ How does a country work without a functioning currency? An experience report from Venezuela , NZZ , October 12, 2018
  22. ↑ Panne d'électricité géante au Venezuela: “A Caracas c'est le chaos” , Le Monde, March 12, 2019