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News

Commerzbank and Deutsche Bank enables giropay for online shopping 

Monday 20 December 2021 15:26 CET | News

Germany-based Commerzbank and Deutsche Bank have announced allowing customers to use the giropay method to pay for online shopping. 

Users need their access data (username and PIN) from online banking, and the payment is confirmed by means of a TAN. Customers of the two banks can pay in thousands of other online shops such as electronics retailers or airlines by online transfer. According to a paydirekt representative, the integration of giropay at Commerzbank and Deutsche Bank is a step towards a standardised online payment method for German banks.

The online payment methods giropay and paydirekt are being combined under the giropay brand. Paydirekt laid the foundation for the merger with the takeover of giropay in December 2020. A transition phase began in May 2021, during which the two digital payment methods of the German banks and savings banks will be gradually merged.

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Keywords: product upgrade, banks, mobile banking, online shopping
Categories: Banking & Fintech
Companies:
Countries: Germany
This article is part of category

Banking & Fintech

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