What is Giropay payment method?
Giropay is an online credit transfer-based payment method that allows online shoppers to pay directly from their bank accounts. Today, Giropay is supported by over 1500 German banks, and through a collaboration with Austrian EPS payments, helps merchants reach over 41 million potential customers in Germany and Austria combined.
Supporting Giropay banking payments gives you access to more of the region’s retail market and helps you become a preferred merchant in Germany and Austria. Enjoy lower fraud risk levels, and get paid instantly with low fees per successful transaction.
Giropay payments are a great alternative for shoppers who would rather avoid using their credit cards. It’s also free for account holders to use and requires no additional sign-up.
Since its introduction in 2005, the Giropay payment method has soared in popularity in Germany, whether people are using cards, or other digital wallets to pay. Over 60% of the population shop online today, 14.1 million of which shop cross-border.
When you accept Giropay payments, you enjoy:
- Real-time transaction confirmation: know instantly when you get paid, so you can fulfil orders straightaway.
- Top notch security: with all transactions guaranteed and irrevocable, backed by all participating banks.
- Being a trusted service provider: offering a payment method that is highly regarded and is often chosen over credit cards in Germany and Austria.
How do Giropay payments work?
To use the Giropay payment method, your customers authorize payments from their bank accounts directly. Once the payment is through, you’ll get notified in real-time.
Successful Giropay payments are irrevocable, so you can proceed to fulfill orders immediately, with transaction security that’s guaranteed by your customer’s bank.
1. Shopper selects Giropay and specifies their bank at the checkout screen. They are then redirected to their bank app or website.
2. Shopper enters account details, checks payment details and authorizes the payment.
3. Once purchase is approved, the shopper is redirected back to the merchant page.
How to accept Giropay payments
Payvision makes it simple for you to start accepting the Giropay payments, so you can get paid faster, and expand your business sooner.
Install a Plugin, or choose from our Full Redirection method or Embedded method of directly integrating Giropay payments into your business. We’ll take care of the complete checkout process for you.
Alternatively, create a server-to-server link to our simple but powerful Payments API, or send a Payment Link to your customers to request Payments.
Learn all the details you need to know about our integration options here.
We’ve also got all the documentation you need, and a dedicated support team on standby to help with any issues you might have.