29:
239:
Giropay offers merchants a real-time payment method (publicized as virtually risk-free) to accept internet payments. For customers, Giropay uses the same environment as their banks' online banking sites. The level of security depends on the participating bank. Some German Banks offer
177:. The two began a merger in May 2021. On 1 July 2024 paydirekt announced that the Giropay service will be shut down on 31 December 2024. Some payment providers stopped the service on 30 June 2024. It will be replaced by the European payment system
231:. Nevertheless, Giropay has a reach of about 17 million German online banking customers, and about 60% of all commercial bank accounts. That number means the participating banks are serving the vast majority of the German online banking market.
142:. Introduced in February 2006, this payment method allows customers to buy securely on the Internet using direct online transfers from their bank account. The system is similar to the Dutch
331:
Costs are calculated on a per-transaction basis and decrease with transaction volume or value. The NetBanx payment gateway quotes figures from 1.2% to 0.9%, plus 0.08 € per transaction.
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A remittance slip is sent to the customer for confirming the transaction, containing a TAN (transaction number). The customer enters this number to confirm the transaction.
511:
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Bank authorizes transaction in real-time, deducting the amount directly from the consumer's account (if there is not enough balance, the transaction will be refused)
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right however, which can be considered a disadvantage for the consumer using this payment method. This is considered an advantage to the merchants.
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In 2008, the system processed 3.2 million transfers, with the transactions made totalling 185 million Euros.
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Consumer is redirected back to the merchant page with a confirmation that the payment has been successful
286:
Merchant offers
Giropay as payment method, often in addition to the regular credit card payment options
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based online banking services. No sensitive information is being shared with the merchant, such as
256:
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8:
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are participating in
Giropay. However, the number of participating banks from the
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512:"Warum man mit Giropay nun besser zahlt als mit PayPal oder Kreditkarten"
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224:
276:
252:
573:"What are Giropay and Sofort? – A detailed guide for business owners"
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By May 2007, more than 100 million euro in purchases had been made.
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Merchant received real-time confirmation of the payment by the bank
151:
49:
370:"paydirekt stellt Online-Bezahlverfahren giropay Ende 2024 ein"
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payment service in
Argentina, and Secure Vault Payments in the
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is limited. In this sector, the major participating banks are
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Over one million such transactions are processed every month.
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Payments are guaranteed for amounts up to 5000 euros.
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The customer signs the transaction digitally using a
298:Customer enters account number, PIN, and either:
292:Consumer is redirected to their bank's login page
594:
289:Consumer selects Giropay and selects their bank
166:until December 2020, when it was acquired by
295:Participating bank displays transaction data
418:"Availability of Giropay: June 2024 update"
392:"Giropay Depreciation FAQ - Mollie Support"
27:
475:
473:
471:
469:
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308:token (if their bank offers that service)
16:Internet payment System based in Germany
541:"Giropay press release, August 7, 2006"
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462:
482:, PDF document distributed by NetBanx
259:card. Others, however, offer simpler
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181:, which was launched on 2 July 2024.
372:(in German). paydirekt. 1 July 2024
341:Elektronisches Lastschriftverfahren
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251:based on the chip embedded in the
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349:, a European payment service by
162:. Giropay was owned by giropay
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480:Explanation of Payment Systems
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343:, a German direct debit system
1:
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275:account numbers. There is no
138:system in Germany, based on
7:
351:European Payment Initiative
334:
61:; 19 years ago
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501:, retrieved 1 January 2010
282:Giropay works as follows:
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154:online service in Canada,
608:Payment service providers
242:two-factor authentication
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26:
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492:2008 processing figures
450:. Brussels. 2 July 2024
603:E-commerce in Germany
497:19 July 2011 at the
150:payment system, the
85:Number of locations
23:
618:Banking in Germany
577:paymentsplugin.com
246:challenge–response
185:Transaction volume
89:1,500 German Banks
21:
521:(in German). 2023
244:(2FA), such as a
221:Deutsche Postbank
209:cooperative banks
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78:Deutsche Postbank
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146:payment system,
136:Internet payment
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613:Online banking
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448:wero-wallet.eu
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424:. 24 June 2024
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398:. 24 June 2024
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213:private sector
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140:online banking
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444:"Wero Wallet"
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580:. Retrieved
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555:. Retrieved
548:the original
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523:. Retrieved
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426:. Retrieved
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400:. Retrieved
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374:. Retrieved
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249:access token
238:
203:Most German
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131:
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36:Company type
18:
582:12 February
269:credit card
225:Commerzbank
171: [
95:Area served
597:Categories
519:giropay.de
357:References
277:chargeback
253:debit card
205:Sparkassen
557:1 January
168:paydirekt
108:paydirekt
495:Archived
335:See also
121:.giropay
46:Industry
525:14 July
454:14 July
428:20 June
402:27 June
376:14 July
235:Process
152:Interac
132:Giropay
114:Website
99:Germany
74:Founder
64: (
56:Founded
50:Banking
22:Giropay
422:Stripe
396:Mollie
148:MyBank
134:is an
551:(PDF)
544:(PDF)
515:(PDF)
327:Costs
199:Scope
175:]
144:iDEAL
104:Owner
584:2023
559:2010
527:2024
456:2024
430:2024
404:2024
378:2024
347:Wero
273:Giro
263:and
227:and
207:and
179:Wero
164:GmbH
66:2005
59:2005
40:GmbH
306:2FA
271:or
265:TAN
261:PIN
257:ATM
255:or
123:.de
119:www
599::
575:.
517:.
464:^
446:.
420:.
394:.
223:,
219:,
173:de
586:.
561:.
529:.
458:.
432:.
406:.
380:.
68:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
