As a Sparkasse customer, you should know what GiroPay is if you want to send money securely and free of charge using your cell phone. However, it is no longer possible to use this service to pay for online purchases.
GiroPay: What is it?
Until December 31, 2024, many online stores accepted not only PayPal but also GiroPay as a payment method. However, this online payment method has been discontinued. Sparkasse customers can still use GiroPay to send money securely, free of charge, and in real time via their cell phones.
- GiroPay worked similarly to the SofortÜberweisung service. It was a joint digital payment method developed by German banks and Sparkassen.
- Following the discontinuation of the German online payment method, the European payment service Wero from the European Payments Initiative (EPI) is considered its successor.
- As a Sparkasse customer, however, you can still send or request money securely and in real time via your cell phone using giropay| Kwitt . To use the fast “send money” feature, you’ll need the Sparkasse app.
How the European payment service Wero works
With the Wero app, you can securely send money across borders in Germany, France, and Belgium in just a few seconds using your smartphone, provided your bank offers the service. More countries are set to be added. The payment system is considered an alternative to PayPal. All you need is a checking account at a bank that offers this service and a smartphone.
- The advantage of Wero is that you can send your money without going through third-party providers securely and in real time to another checking account.
- To send money via Wero, you’ll need the recipient’s phone number or email address. The recipient must also have an account at a bank that offers the Wero payment service.
- The service is free for private individuals, at least.
- Sparkasse also offers the Wero payment service.
- It is not yet possible to pay for purchases in online stores using the Wero app. However, this is planned for 2025.
