Giropay Casinos

What is Giropay?

Established in 2005, Giropay is a perfect success story in Germany. It is an online payment solution headquartered in Frankfurt.

At first, the service was a collaborative effort by:

• Postbank (a retail arm of Deutsche bank)
• The German Cooperative Financial Services Network, and
• The German Savings Bank Group.

As such, the consortium put Giropay above several other fintech services.

Nowadays, bank partnerships are not so rare. However, the situation in the first decade of this century was quite different.

Not many financial institutions were willing to tread the online route. This is because customers were still skeptical about using the internet for financial purposes.

The emergence of eCommerce stores and iGaming made online payments a necessity. Notably, the main issue revolved around the sharing of user details. Existing security measures could not prevent various cybercrimes including credit card hacks and fraud.

Giropay was then created to tackle these problems. In fact, the company’s approach made the brand an instant hit in Germany.

By 2008, Giropay had processed upwards of 3.2 million transactions. The number has been on the rise since.

In 2014, Giropay merged with EPS, the leading online payment solution in Austria. Consequently, Giropay’s service became available in the two countries. The merger opened up a potential of 45+ million customers.

In 2019, Giropay saw yet another significant breakthrough when it adopted a new PSD2 (X2A) interface. This advancement allowed the brand to serve customers of non-partner banks. It resulted in near-total bank coverage all over Germany.

Today, approximately 1500 German and Austrian financial institutions are in consortium with Giropay. The brand currently processes about a million transactions daily.

Due to its credibility, most gambling sites in Austria and Germany allow Giropay payments.

Giropay Fees & taxes

At the end of the day, payment processing companies also strive to make profits. For this reason, quite a number of them will charge you admin fees to use their services. Others will impose hidden fees that you have to find out by yourself.

In the case of Giropay, you incur fees ranging from 0.9 to 1.2% for various services. For services such as requesting payments, you will incur flat fees of 0.9%.

Giropay is a perfect way of making online casino deposits. However, the fees fluctuate depending on the amount to be deposited. The fee percentage decreases as the top-up amount increases.

For some reason, Giropay seems to cater to high-rollers in the online casino industry. This means that the more you choose to transfer, the lesser the fees you are likely to incur.

Be that as it may, these fees make a lot of sense since you get top-notch services in return. Moreover, Giropay is among the few payment options that allow you to request online payments through invoices. Such a service, no matter the choice of payment option, attracts management fees.

It is worth pointing out that Giropay is not an e-wallet. As such, it is not capable of holding funds. The payment processor simply acts as a buffer between you and your bank.

As a payment processor, Giropay simply charges fees based on the bank’s policies. This is because the banks must also apply their charges as per mobile banking requirements.

With that said, you must always ensure your bank account has enough to cater to Giropay fees.

Giropay Market Coverage

Another important aspect of a payment method is its availability. This allows users to transact with ease and convenience.

Of course, it is always great for payment options to be available in as many countries as possible. Good payment platforms are always accessible to people who deem them useful. After all, when technology is shared, it ‘grows’.

Giropay, at the time of writing, is only available in two jurisdictions– Austria and Germany. The creators did not plan for the option to cover the Austrian market. However, it did not come as a surprise given the bilateral relationship between Germany and Austria.

However, Giropay should not be admonished for not being available all over the world. This is because the payment option is a collaborative effort between German and Austrian banks.

Perhaps in the future, the payment solution will partner with banks in other nations.

Local payment solutions are still relevant in this day and age. Giropay offers lots of them for Austrian and German citizens.

The service is an important aspect of the online space in the two nations. As such, we cannot ignore its benefits to the residents of the countries.

Currently, Giropay only supports EUR as currency.

Sofort

As a german-based payment method, Sofort is a perfect alternative for German players.

Like Giropay, Sofort is available for online casino deposits. It was formerly known as Payment Network before it changed its brand name in 2005.

Sofort is available in 13 countries including Austria, Belgium, the UK, and the Netherlands. The payment option is owned and run by Klarna Group which acquired it in 2014.

With Sofort, you do not need to register for an account. You are good to go as long as you hold an account with a partner bank.

When it comes to casino withdrawals, you will have to look for other alternatives. Sofort is yet another secure and reliable payment option.

Zimpler

With Zimpler, you can make secure and safe online payments. It is yet another innovative and convenient payment solution out of Sweden.

Casinos using Zimpler are able to automate different payments. Moreover, the payment process has a straightforward sign-up process.

Its main aim is to make casino transfers as simple as possible. It uses HTML% technology to provide a smooth mobile experience.