Giropay was introduced in 2005 by a group of German banks as an online banking payment method.
Without registering separately for Giropay, consumers can use their existing secure online banking environment to make payments. Their bank account information and transaction details remain fully protected and secure.
According to Giropay, the payment method supports the majority of banks in Germany, and consumers complete e-commerce transactions using their usual online banking PIN and TAN.
- Giropay has over 45 million users who make up around 54% of the German adult population (PPRO).
- With a growing market share of 17%, Giropay is one of the top-5 e-commerce payment methods in Germany (eCommerceDB).
- Merchants receive a payment guarantee straight after successful Giropay transactions (up to €10,000).