Giropay is an online credit transfer-based payment method. Founded in 2005, it allows online shoppers to make payments directly from their bank accounts. It is supported by more than 1,500 banks.
Giropay payments are popular among retailers; they are guaranteed by the buyer’s bank, meaning they cannot be reversed. The payment method is gaining traction among airlines, with companies such as Deutsche Lufthansa, Singapore Airlines, and Transavia accepting Giropay payments for flight bookings. Giropay is also widely used for utility bill payments.
In 2014, Giropay and EPS Austria collaborated to provide cross-border payments via a single payment interface. Giropay is available to over 45 million customers in Germany alone.
In August 2020, German-based payment services provider paydirekt announced the acquisition of Giropay, effective from December 1, 2020. Following the acquisition, paydirekt, Giropay, and Kwitt (the mobile payment system of Sparkasse Bank and Volksbanken Raiffeisenbanken) were merged into a single payment brand called Giropay in May 2021. However, users are provided with both Giropay and paydirekt payment options during the checkout process. Kwitt functionality is now offered as Giropay Geld-Senden.
The report provides information and insights into Giropay including:
Scope
Reasons to Buy
Giropay payments are popular among retailers; they are guaranteed by the buyer’s bank, meaning they cannot be reversed. The payment method is gaining traction among airlines, with companies such as Deutsche Lufthansa, Singapore Airlines, and Transavia accepting Giropay payments for flight bookings. Giropay is also widely used for utility bill payments.
In 2014, Giropay and EPS Austria collaborated to provide cross-border payments via a single payment interface. Giropay is available to over 45 million customers in Germany alone.
In August 2020, German-based payment services provider paydirekt announced the acquisition of Giropay, effective from December 1, 2020. Following the acquisition, paydirekt, Giropay, and Kwitt (the mobile payment system of Sparkasse Bank and Volksbanken Raiffeisenbanken) were merged into a single payment brand called Giropay in May 2021. However, users are provided with both Giropay and paydirekt payment options during the checkout process. Kwitt functionality is now offered as Giropay Geld-Senden.
The report provides information and insights into Giropay including:
- Detailed insight into its business
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- The company's important events and milestones
Scope
- In 2005, Giropay was founded.
- In JULY 2014, Giropay entered into an interoperability agreement with EPS Austria to offer cross-border payments to customers of both solutions via a single interface.
- In October 2018, Giropay partnered with Wüstenrot Bank, enabling the bank’s customers to make online payments using Giropay.
- In May 2021, payment platforms paydirekt, Giropay, and Kwitt were merged into a single payment brand called Giropay.
Reasons to Buy
- Gain insights into Giropay's business operations and key events.
- Gain insights into its product portfolio.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Table of Contents
- Overview
- Benchmarking
- Products & Services
- Significant Events
- Partner Banks
- Supporting Merchants
- Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Giropay
- ELV
