What is Giropay?
Giropay is a payment method that can be used to make purchases in online shops. Giropay can also be used to pay invoices online. You can also identify yourself online using the Giropay ID.
There are different advantages for customers and merchants with this payment method. Customers do not have to leave their data in the online shop, as payment is made directly through the bank where they are a customer. Sellers receive a payment guarantee from the buyer’s bank immediately after completion of the purchase.
What are the requirements for Giropay?
To enable customers in online shops to pay with Giropay, the shop operator must offer this payment method and the customer must have a current account approved for online banking. Of course, the buyer’s bank must also participate in the payment procedure. Additional registration in the online shop is thus no longer necessary.
Traders who wish to use Giropay must register for the payment method. Online shop operators can do this directly on the Giropay website. There are fees for using Giropay, which can be viewed on the Giropay website. A technical connection is required for integration in the shop itself, which can be solved with most shop systems by installing a Giropay plug-in. Here are some examples of Giropay plugins:
- Giropay Plugin for OXID
- Giropay Plugin for WooCommerce
- Giropay Plugin for Shopware
- Giropay Plugin for Gambio
- Giropay Plugin for Magento
How does online shopping with Giropay work?
The customer clicks on the Giropay payment method in the online shop. There he chooses his bank and is immediately forwarded to the online banking website of his bank. Then he logs in as usual with his access data. The transfer is then already completed. Only the TAN (transaction number) must be entered to complete the purchase process. For smaller amounts of less than 30 Euros, some credit institutions already do without a TAN entry.
What are the advantages of Giropay for customers and sellers?
A particularly important advantage of Giropay for customers is that they do not have to pass on their bank data to third parties (e.g. the online shop operator). The latter only learns which bank is carrying out the transaction. Further advantages are among other things:
- there are usually no costs for using the software for the end customer (buyer)
- the bank transfer is already filled in, this saves time and number errors etc. can be avoided
- for amounts under 30 Euro, some banks do not require the entry of PIN or TAN, so online purchases can be processed even faster
Giropay advantages for online merchants
- the online merchant receives an immediate payment guarantee which is not revocable by the customer
- a fast dispatch can be transacted thus risk-free
- for the seller there is no risk of non-payment, which is more likely to occur with some other payment methods