Interesting, although I doubt the consumer protection will be as good as Visa or Mastercard’s.
It looks like the only valid “chargeback” reason is non-receipt of goods (with the onus on you, presumably, to prove that you didn’t get them).
That’s pretty awful!
The principle advantage is “it’s all German, no dodgy other countries can access your data” almost as though Visa and Mastercard are a security risk. German attitudes are pretty unusual here, I must say. I have no concerns that a major multinational corporation is going to be interested in pulling a scam on me!