Giropay

Giropay was launched in 2005 by Postbank, the retail arm of Deutsche Bank, Germany’s largest bank. The service gives Germans a secure way to pay online without resorting to third-party payment services. The success of the payment method led other banks to offer Giropay as an option to their clients. Its explosive growth has made it a must-have for any website seeking to attract a German audience. The company was acquired by paydirekt GmbH in 2020.

The service connects to your bank account to carry out the transaction. The money transfers via Giropay are instant, allowing you to start playing without delays. When depositing via Giropay, you must authorize the transaction by logging into your bank account.

Giropay is a promising payment method provided you live in a country that supports it. Should you use it when playing in online casinos? This article covers everything you need to know about Giropay and online casinos.

What is Giropay?

Giropay is an online payment service offered by many German banks. The service is used in everyday payment methods used in online shops and municipalities. Giropay is free of charge for its users. Instead, the service makes money by charging merchant fees.

The fast transactions and easy signup make Giropay an attractive prospect for German players. Giropay’s widespread popularity means many of its prospective users already use it. On top of that, the payment service is slightly more secure than bank cards.

While Giropay supports deposits, we cannot use it to withdraw money.

Giropay Account

You need to register a Giropay account before using this payment service. When registering an account, you must link Giropay to your current bank account. Depositing with this payment method will draw the funds directly from your bank balance.

Company

Giropay started as an online payment service created by the company Postbank. The service was backed by Deutsche Bank, Germany’s biggest bank. The service was successful, as Giropay would process over 100 million euros in just a year. Its success led to other banks adopting Giropay as a standard for online payments. The company exclusively operates in Germany and Austria.

Nowadays, Giropay is a payment option available in more than 1,500 banks. That covers more than 85% of the German banking market, showing how successful Giropay has become. In 2020, Giropay was acquired by paydirekt GmbH. Under new management, Giropay continues to operate without any significant changes. Giropay also merged with P2P payment method Kwitt, expanding its services further.