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A comment on Site requests bank logins for online purchases. Parent comment

Re:Site requests bank logins for online purchases by atomwaffel on Thursday November 17, 2016 @04:09AM (#12975747)
Yes, the same system exists in Germany too (confusingly alongside Sofortüberweisung). It's called Giropay and it works the same in that you sign in on your online banking website and the wire transfer is guaranteed by your bank, not a third party.

It's nice and works well. All would be great if it weren't for the fact that it's only offered by some banks (mainly cooperatives I think) and only accepted by some shops. Why the German banks have tried to sue Sofortüberweisung out of existence instead of implementing their own universal system that undercuts Sofortüberweisung's merchant fees (0.9% + €0.25 per transaction) is beyond me.

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Re:Site requests bank logins for online purchases by thesimon on Thursday November 17, 2016 @04:56AM (#12976017)
> instead of implementing their own universal system that undercuts Sofortüberweisung's merchant fees (0.9% + €0.25 per transaction) is beyond me.

Well, they are trying with wasting 300 millions so far on Paydirekt.

Their rates are still over credit cards though...

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Re:Site requests bank logins for online purchases by atomwaffel on Thursday November 17, 2016 @08:42AM (#12977301)
Oh right, thanks! It seems they're such a strong competitor that I've never even heard of them. And they still support nowhere near as many banks as Sofortüberweisung, although I appreciate that these things take time (and there are a lot of banks in Germany).
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