History
Giropay was founded in 2006 as an initiative of Postbank, a retail banking division of Deutsche Bank. Its aim was straightforward but ambitious — to make online transactions not just secure but also efficient. Within a year from the service’s inception, Giropay users were responsible for over €100 million in online purchases. Fast forward to today, and the platform is orchestrating over a million transactions every month, catering to a robust customer base of 40 million users.
What sets Giropay apart in the iGaming sphere is the sheer simplicity and directness of its service. Unlike many other payment options, Giropay doesn’t require users to set up a special account. All you need is a bank account with a financial institution that collaborates with Giropay, making it exceedingly convenient for players to jump right into their favourite games.
Moreover, Giropay eliminates third-party involvement in transactions. Payments occur directly between the user and their bank, adding an extra layer of security and speeding up transaction times. This is a crucial advantage for online gamblers, who often require quick and secure ways to fund their accounts.
An additional layer of security is the Transaction Authentication Number (TAN), which is generated through a mobile app or via SMS at the time of the transaction. This feature instils confidence in players, especially when large sums are at stake in a high-risk gaming environment.
