[Study] Paydirekt does not stand a chance against PayPal

A mm1 survey shows that: Only 2% of payment transactions go through Paydirekt. Together with Splendid-Research, a market research institute, mm1 has conducted a survey among 500 young German customers age 17 to 35 to determine what Paydirekt’s current market share is compared to PayPal.

The results were sobering: Only 11 percent of young online banking users are registered with Paydirekt; market share according to use is a mere 2 percent. The "winner-takes-all" effect currently gives Paydirekt no chance. The German banking world needs to find radical approaches that give a reason to switch to Paydirekt", explains Rainer Lindenau, managing partner at mm1 Consulting & Management.

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