Founded in 2006, Giropay is a German online payment processor that lets casino players in Germany transfer money between their bank and online casino accounts. Over 17 million Germans use Giropay. Secure online casino payments with Giropay are available to those with Sparkassen and cooperative bank accounts in Germany. Germans who have private bank accounts may not be able to utilize the service.
Giropay is not an e-wallet like PayPal or Neteller, but rather an internet payment mechanism.
Unlike e-wallets, you don't have to create an account to use this service. To conduct an online transaction with Giropay, you will be redirected to your online bank account. With Giropay, the invoice data will be provided by the online merchant. Then all you have to do is press a button and you're done.
Customers also don't have to make a deposit into a Giropay account in order to use the service. The money will be sent directly from your account through secure data channels, ensuring maximum security.
As with e-wallet payments, consumers won't have to provide any personal or financial information with the casino. As a result, many gamers are hesitant to post their credit card or bank account information online. The risk of being a victim of identity theft is virtually nonexistent when using Giropay as your payment method.
One of the best options for gamers is Giropay. Casino players are concerned about security and data protection, as well as the speed with which funds may be transferred. And it's safe to say that this way of payment is up to the task. Players can make payments of up to ₤5000 and the collaborating bank will immediately approve the transaction.
However, the main issue that gamers will face is a general lack of coverage. Only around a quarter of Germans can use Giropay as a payment option and not much else. Players from the UK and other countries are similarly out of luck, although there have been some indications that Giropay will expand to other regions in the future. Only time will tell.