Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Giropay
Giropay is an online payment method that has been specially optimized for the requirements of e-commerce.
The mode of operation
Giropay can be used without registration or software installation. The user only needs to have a checking account that is activated for online banking using the PIN/TAN procedure and that participates in Giropay. The procedure is similar to online banking, where users log in with their known data (account number or login name plus PIN). After logging in, the user receives a non-modifiable online transfer with all data filled in.
Payment guarantee and security
Giropay is free of charge for the buyer. Another advantage is the high level of data security, as all personal and security-relevant data (login name, PIN, TAN) takes place in a protected dialog and is not accessible to third parties. Giropay is also attractive for merchants, since he immediately receives an irrevocable payment guarantee after a successful Giropay transfer.