Giropay is an online payment system from Germany. It was founded in 2006 and just like the Dutch-owned iDEAL, Giropay allows to make instant bank transfers securely over the internet. As a payments gateway, it has partnered with over 1,500 credit institutions, including Sparkasse, Volksbanken Raiffeisenbanken, Postbank, DKB, MLP and BBBank, to name a few. Below is a quick description about their business and what you can do when you see the Giropay sign with an online service. T&C's apply to all bonus offers on this site. Click for a list of all banking methods.
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How It Works?
Giropay is an intermediary, which enables dealers to offer most if not all German banks as a payment method, helping the end user proceed with the transaction effortlessly.
Once the payment method is detected and selected, including your preferred bank, Giropay will then redirect you to your online bank with all the fields already filled out. There you can review the amount and other financial information regarding your purchase before confirming the payment by entering a TAN and/or PIN. As such, there’s no registration needed, because all you need is your security number(s) that you use when doing your online banking. That said, you do need to own a bank account to start with.
Similarly to the modern contactless card payments, some transactions that are less than €30 can be made without the TAN, depending on the bank that you have your account with.
Giropay is a member of the following four associations: Federal Association of the German Mail Order, Federal Association of the Digital Economy, Federal Association of Service Providers for Online Vendors e.V., and EHI Retail Institute.
Other than that, an AES 256-bit encryption is in place at all times to prevent data theft. If in doubt, check for the certificate at the time of making the payment. Also note that Giropay itself won’t have access to your sensitive data. That in mind, they’ll also never ask for your PIN or TAN either.
Giropay is free to use and is accepted at most German-facing online casinos and shops. However, you need to do your own due diligence and check with each merchant or online casino for any additional fees. They are usually no more than 2.5%.
For merchants or dealers, Giropay has their tariffs readily listed on the official page as well, along with a FAQ page and contact details, such as a phone number and web form.
Giropay is a German company that enables users to make instant bank transfers securely and without hassle. They’ve partnered with more than 1,500 financial institutions and don’t charge the consumer any additional fees. All that’s needed is your TAN or/and PIN number.
Click here to visit Giropay website.
Posted by CCJ Team