Germany doesn’t have room for payments with bank cards. Payment by bank transfer is what German e-shoppers prefer. Giropay is one of their main bank transfer payment solutions!
Did you know that Germans’ prefered online payment method is bank transfer? Used by 37 million German e-shoppers, it has a 39% market share coming in place before e-wallets and bank cards.
Before we talked about Germany’s prefered bank transfer method, SOFORT Banking. Today HiPay will be giving you some insights into Giropay, Germany’s second ranked bank transfer method.
Giropay is extremely easy to use with no need to register or create an account. E-shoppers only need to be affiliated with a bank that is partnered with Giropay. In Germany, 80% of the banks are affiliated with Giropay.
This solution offers equal advantages for e-shoppers and e-tailers. They benefit from a secure payment with no risk of chargeback due to insufficient funds. On clients’ part, they have access to a simple payment method with no need to use their credit card and have an immediate debit on their account.