GiroPay began in 2006 by a German company specializing in internet payment systems, based on online banking. It’s a system with similarities to the Sofort Überweisung payment system. It also serves to allow customers to purchase goods and services securely over the internet. Done by using direct online transfers from account holders bank accounts.
This popular Austrian and German online banking payment method works as an intermediary between customers from those countries. Obviously connected to the system via their bank account, and other internet entrepreneurs and online shopping outlets.
There are some 1500 German and Austrian banks working with this online banking system. And also serving well over 16 million customers, with over 1 million payments proceeded per month. This makes them one of the top online payment methods in Germany, comparably close to Sofort Überweisung that carries out about 2 million transactions per month.
However, Sofort Überweisung is active in 10 other European countries, handing it a clear advantage in members.
What is GiroPay
As briefly stated above, this is a direct online banking system connected to the users (payer) banking account offering the player instantaneous and secure deposits of funds to a recipient (webshop, online casino or other entrepreneurial online entities). You can also withdraw from an online casino using GiroPay services.
How to use GiroPay
When paying at your chosen online casino, the payer must select GiroPay as the payment method plus the bank in which the payer holds an account.
The payer will go to the login page of the bank account followed by a display of data concerning the transaction. The payer must enter their account number with the related Pin-code, successively the bank will send a transaction Authentication Number to confirm the transaction.
The recipient will receive payments in real time after the bank has authorized the transaction and immediately deducting the send amount of the payer (depositor) account with a message of confirmation. Finally, the payer will go back to the receiver's website with a confirmation the payment was made.
Advantages of using GiroPay
Overall, it offers its users a completely safe and secure payment method which is carried out immediately. You don’t have to wait for deposited amounts becoming available to play at your favourite online casinos.