May 3, 2022
How to Use GiroPay for Business Owners

GiroPay is a German online payment method that is becoming increasingly popular with customers both in the country and in the surrounding nations. The company acts as an intermediary between merchants and banks. The alternative payment method (APM) allows consumers to review and make secure payments online. It acts as a gateway between local banks and enables customers to fund their accounts using bank transfers.

Introduced in 2005 as the new official payment method for online banking, GiroPay is now accessible by more than 40 million shoppers and accounts for 16% of online transactions in Germany. Over 1,500 city councils, authorities, and municipalities put their trust in GiroPay.

More than 100 million euros in purchases had been made by May 2007. By the following year, the system had processed 3.2 million transactions totaling 185 million Euros. At present, over one million transactions are processed every month.

What are the Benefits of GiroPay?

There are many benefits to using GiroPay as a payment method, such as:

  • It uses the same environment as users’ online banking sites, meaning the level of security depends on the participating bank.
  • It requires no additional registration.
  • The system is fully compatible with several devices, including; PCs, tablets, and smartphones.
  • All sensitive and personal accounts and sales data remain safe.
  • It answers to the highest security and data protection standards.

The overall payment procedure is fast and only takes a few clicks, making it highly preferable by consumers.

Let’s Review How Your Business Will Thrive

Onboarding the German alternative payment method can give your business a competitive edge.

  • As a payment method, Giropay has a brilliant conversion rate. The payment method provides excellent local coverage and is connected to nearly 1,500 German Banks. This connectivity makes it accessible to a large portion of your German customer base.
  • This APM is secure with two-factor authentication meaning no risk of chargebacks.
  • It allows fast and convenient payments and features real-time bank transfers for instant confirmation of payment success.
  • Bank transfers are popular in Germany and GiroPay is already established. Thus, integrating GiroPay is associating your business with a trusted and reliable payment method.

How GiroPay Works

GiroPay is an extension of customers’ bank app; all payment information comes from the user’s trusted bank. When selecting GiroPay as their payment option, customers will be redirected to GiroPay’s site, and from there, the next step is to select their bank and input their details. Once the payment has been processed, the account will be loaded with the new balance.

As mentioned, GiroPay provides fast, safe, and easy payments for individuals and businesses. Customers only need a bank account to use this APM. The account should enable online banking and uses a PIN and TAN (transaction authentication number). The system is easy for customers and merchants, meaning you don’t have to worry about complicated processes and your customers can purchase from you without the hassle.

To pay with GiroPay:

  • The user selects GiroPay and chooses their bank.
  • The user is redirected to their bank’s page to log in.
  • The participating bank displays the transaction data.
  • The user enters their account number or PIN.
  • The bank authorizes transactions in real-time, deducting the amount directly from the consumer’s account instantly.
  • The merchant receives real-time confirmation of the payment by the bank.
  • The user is redirected back to the merchant page where a payment confirmation pops up

Integrate GiroPay with Macropay

All in all, GiroPay is a payment method you need to consider if you target Germany. Macropay can help you review your business’s payment options and give expert advice on integrating alternative payment methods into your payment gateway.

Get in touch with Macropay to open up your payment options and garner more traffic now.

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