GiroPay is a German online payment method that is becoming increasingly popular with clients in both the country and the surrounding countries. The company acts as an intermediary between merchants and banks, and allows consumers to make secure payments online. It’s an attractive option for many who don’t want to enter their credit card details online, depositing money into GiroPay is a relatively easy and quick process. But only to whom is this payment option available? What are the advantages and disadvantages of using GiroPay instead of other methods when make payment online. take a look.
History
GiroPay has been around since 2006. Owned by GmbH, the service is very similar to that provided by iDeal (Dutch) and Interac Online (Canadian). It grew rapidly and by 2010 the company handled over 5.8 million transactions and was getting 70,000 new subscriptions every month. Part of the reason Giro Pay and other similar services are so popular is the improved technology and access to Internet banking. This means that individuals can quickly process their banking transactions from home or office, and when they fund betting accounts, unlike in past times, they will not need to go to their local bank to add money.
How GiroPay works ?
To use GiroPay, customers only need an internet banking-enabled bank account and an account set up to use PIN and TAN (Transaction Authentication Number). , Customers will be redirected to the GiroPay website,when selecting Giro Pay as a payment method . The next step is to choose their bank and then enter their Bank details. Once the payment is completed and processed, the VOIP account will be charged with the new balance. It guarantees payments from banks to VOIP account, so the money is added instantly.
In addition to VOIP, e-wallets like Skrill and Paypal are accepted to fund their accounts. Almost all German banks create savings, cooperative and private to connect with GiroPay. Some of these companies include:
Sparkas, Volks Bankin, GLS Gemeinschaftsbank, Deutsche Kreditbank (DKB), Bankhaus Ellwanger and Bankhaus Bauer etc.
There are a number of advantages and some drawbacks to using Giro Pay to fund VOIP accounts:
Benefits of Giropay
GiroPay acts as a gateway between local banks and enables clients to fund their wager accounts using bank transfers, and often they will not be able to do so in another way. Giro Pay is a very secure solution (256-bit AES encryption with TLS 1.2 for secure transfer) and accepted by a large number of well-established bookmakers and branding that gives individuals confidence in its safety.
Transactions using GiroPay are free to the customer from the end of the banks. Most online websites offer Giro Pay as a free service, thus unlike some other payment methods.
Since GiroPay is also available through companies like Skrill and Paypal, it allows who like the flexibility to use e-wallets to fund their accounts from their bank accounts.
Defects of Giropay
GiroPay is primarily a process facing Germany, although banks from some neighboring countries have access to their services. UK customers can’t access Giro Pay.
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