giropay

Giropay is an online payment method of parts of the German banking industry, which is based on the transfer of online banking and has been specially optimized for the requirements of e -commerce.

Structure

Giropay was founded in February 2006 by parts of the German banking industry. Based on the online transfer giropay promises buyers a simple, fast and secure payments on the Internet. Seller should be able to turn off their non-payment risks by obtaining an immediate payment guarantee from the buyer's bank.

The giropay GmbH was founded by Postbank, the Star Financial ( a subsidiary of the savings bank financial data center computer science ) and the Fiducia IT and GAD ( data centers of the cooperative financial services network, ie, the local cooperative banks ). The object of the giropay GmbH is to determine, inter alia Terms of Use ( Rules & Regulations ) for users. Distribution is through so-called " Acquirer " ( ultimately licensee ) that occur as the actual exchange in the triangle of bank, buyer and supplier.

Since September 2013 giropay, in cooperation with an acquirer - the Giro Solution - direct sales to www.giropay.de to, so interested dealers directly enter into a contract and can integrate the method in their online store.

A giropay customer requires no special registration or additional software to pay for online purchases. Requirements for participation in giropay is unlocked for online banking via PIN / TAN procedure checking account. HBCI smart card are not supported. In addition, the bank of the customer must participate in giropay what currently over 1,500 banks and savings banks do. Among others, the Postbank, Sparkassen, the People's Cooperative Banks and comdirect, DKB and other regional banks offer giropay.

A provider, such as an online store that wants to offer its customers giropay as a payment method, required by an acquirer, similar to a credit card, an acceptance contract. Solutions to technical integration in the online store are offered by the acquirer and / or so-called Payment Service Providers. In direct sales to www.giropay.de everything from one source: Acquirervertrag and technical integration offered by the current solution.

Process

Payment is made directly from the checking account of the customer. To this end, he chooses in a corresponding online store from the payment giropay and there must also designate ( by entering the bank number ), in which he leads a checking account the bank. In online stores with stored personal customer profiles, this step is omitted if the customer has deposited the bank code in his profile. As soon as the customer clicks the online shop to pay, this will automatically be forwarded to the login page of its online banking, where he logs in with his known data (account number or login name plus PIN). After successful login it directly presents a filled with all the data online transfer that can not be changed. By entering a transaction number (TAN ) of the customer authorizes the payment now. On the logout page of the data transfer are displayed again and the customer is directed back to the online store.

The use of giropay is free for the buyer. Another advantage for the buyer is the very high level of security, because it gives the dealer or other third parties without the bank code known. It is all personal and sensitive data (account number, PIN, SSN ) in the protected conversation of online banking with his bank. In order to give the dealer the security of payment, must be given to anyone third parties the possibility of a balance inquiry or credit check as opposed to other methods.

An important feature of the method is that the merchant receives as payee after the successful giropay - Transfer immediately a guarantee of payment of the buyer's bank. Although the transfer is carried out through the normal clearing paths, the online retailer also has an immediate confirmation that the goods value is credited to his account. Unlike direct debits, ELV or credit card payments therefore eliminates the risk of default in this process. This has the same for the buyer the advantage that the dealer can ship the goods immediately without risk.

Terms for customers

Giropay offered by online stores directly to pay for online purchases. It is also integrated into the most popular pay services such as ClickandBuy, Paypal, moneybookers or Neteller.

Banks that allow their customers to pay by giropay, are currently the Postbank, the credit of the Savings Banks Finance Group, including Deutsche Bank, The cooperative banks ( Volksbank and Raiffeisen banks, and GLS Bank and many PSD banks), Comdirect Bank, the Mercury Bank, the MLP AG, Cronbank, Bankhaus Ellwanger & Geiger, the Bank Schilling & Co., the banking house builders and the CVW private Bank AG.

Use for traders

Acceptance contracts can currently be completed in 16 acquirers EVO Payments International, Postbank, B S Card Service, VR-Bank Westmünsterland, WGZ Bank, DZ Bank, Raiffeisen Landesbank Upper Austria, Heidelberger Payment, Net- m private bank in 1891, Transactnetwork, Wirecard, ConCardis, PPRO Financial, WorldPay Customer Payments, Giro Solution and Neovia group. In turn, the acquirer shall cooperate with various payment service providers to giropay technically to implement in the online stores.

The charges that the dealer has to wear for the use of giropay are agreed individually depending on the acquirer.

Security

Giropay uses the safety standards of online banking of the participating banks and savings banks. As a legitimation process of the PIN - TAN procedure is currently primarily reacted, this iTAN, mTAN or any other optimized TAN procedure (eg SmartTAN ) can be used.

The authenticity of the bank's website prior to the entry of PIN and TAN sole responsibility of the customer. This can test by an X.509 certificate done, or at the giropay - analogous to the eBanking - Displaying shared secret.

In giropay the customer waives, by entering his TAN on the right of withdrawal of his referral. A chargeback, as when you pay with credit cards and direct debit is not possible. Therefore, the customer has to resort to methods of reimbursement, which are also offered by the online merchant.

Unlike third-party offers giropay is a legitimate method of banks. The buyer gives his personal bank data (PIN and TAN) only on the pages of his bank. Stiftung Warentest advises: " Before You transactions on the Internet always clear that fraudsters can compromise your account with PIN and TAN. "

Cooperations

Europe

So far giropay is a purely national online money transfer method. Together with the Austrian online transfer method eps pursue both payment method the goal in Europe to be able to pay for cross-border via online bank transfer in e-commerce; and this. complying with the safety standards of online banking

For this reason, giropay and eps want to network their systems in 2014 and then further be open to other providers of online payments, for example, from the Netherlands.