German banks roll out PayPal alternative

The payment system itself will be fully operating at the end of 2015, enabling those who make purchases online to pay directly from their bank account. Paydirekt is integrated into the systems of the participating banks and saving banks and follows the strict requirements from the German banking industry, the same source indicates.

Foreign consumers will also be able to use Paydirekt, provided they have a bank account with online access at one of the participating banks or financial institutions as well as an e-mail address. The system offers an immediate payment guarantee, easy connection via payment service providers and standard plugins, high transaction security, as well as age verification and authentication for buyers.