Giropay is a German online payment system that allows casino players to make deposits through their internet banking accounts. Giropay is available to over 17 million Germans. Those with Sparkassen accounts (Germany’s public banking system) and cooperative bank accounts can utilize Giropay’s secure online payments for casinos. However, Germans with private bank accounts will likely not be able to use the service.
Giropay was founded in February 2006. It was envisaged as a means of giving customers the ultimate security when they made transactions.
How does Giropay work?
Giropay is an internet payment method but not an e-wallet like PayPal or Neteller. The basic differences are as follows:
- You do not need to register for an account. When you make a payment online and choose Giropay, you will be transferred to your internet bank to complete the transaction. There, you enter your bank login information. The online merchant will provide the invoice data. Then you simply make the instantaneous transfer through the click of a button.
- Customers need not transfer funds into an account. The payment will go straight from your bank account, through the company’s high security and data-protected channels.
However, like making a payment with an e-wallet, customers will not give up any personal, financial information to the casino. Many players are uncomfortable with the thought of disseminating their credit card or bank account numbers online. With Giropay, the likelihood of becoming a victim of identity theft is minimal.
Why Giropay Casinos?
Giropay is another good choice for gamers. Security and data protection, as well as transfer quickness, are the common concerns of casino players. And this payment method certainly passes the test. Players can make payments of up €5000 and the participating bank will authorize the transaction instantly.
However, the primary problem players will run into is the lack of availability. As a payment method, Giropay is only available to roughly a quarter of Germans. And that’s it. Let alone if you are from another country. If you are a Canadian player, or from elsewhere in Europe, you’re going to have to keep searching for that perfect payment method. But, there may be signs that this is starting to change.