PSD2: Giropay will soon be available to almost all customers

All German banks and savings banks are to be brought with the introduction of the payment service guideline 2 (PSD2) in support of the payment system Giropay, like it in the press release is called, Giropay is a solution mainly used in Germany for paying for online shopping. In January 2018 it was said in the short profile yet, that more than 35 million customers can use the system, Matching the press release was the Updated short profile, potentially naming 45 million customersWhat corresponds to all customers with online banking access via checking account.

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For example, Deutsche Bank and Hypovereinsbank are connected to it. According to own presentation Giropay uses the PSD2 introduced interface to the bank to enable Giropay. This corresponds to about 15 percent of the retail market, which lacks direct, contractual cooperation with Giropay. 1,500 banks use contracts with Giropay for the payment service of the same name.

The advantage of Giropay is that users do not have to register for it. Giropay uses the online banking PIN / TAN process to facilitate payments on the Internet. As traders supporting Giropay, the company refers to Lufthansa, CTS Eventim and Cyberport. The situation is somewhat reminiscent of Paydirekt, which also advertises some big names. Paydirekt has won Deutsche Bahn as a major customer, but does not support Giropay. Lufthansa should be the counterpart. The air Line In addition to Giropay, it supports an enormous number of payment systems, but not Paydirekt, For Paydirekt, however, the user has to log in, a hurdle on the end customer side. At Giropay, the main obstacle is retailers who rarely offer the system despite the huge number of Giropay customers. Credit cards are more often supported by the experience of One reason could be that Giropay from time to time is classified as expensive,