Alternative Payment Solution: Giropay
Giropay is an online credit transfer-based payment method. Founded in 2005, it allows online shoppers to make payments directly from their bank accounts.
It is supported by more than 1,500 banks and boasts a potential user base of over 35 million online banking customers in Germany.
Giropay payments are popular among retailers; they are guaranteed by the buyer’s bank, meaning they cannot be reversed. The payment method is gaining traction among airlines, with companies such as Deutsche Lufthansa, Singapore Airlines, and Transavia accepting Giropay payments for flight bookings. Giropay is also widely used for utility bill payments.
In 2014, Giropay and EPS Austria collaborated to provide cross-border payments via a single payment interface. Together with 6 million EPS customers, Giropay can be used by 41 million potential customers in Germany and Austria.
The report provides information and insights into alternative payment solution Giropay including -
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