Moving on from Giropay: The best payment alternatives for your business

When customers choose bank transfers, they are looking for security and familiarity. Since they pay directly from their bank account, they don’t need to enter credit card details. To replace Giropay smoothly, you want to offer methods that provide this exact same seamless, account-to-account (A2A) experience.

Wero: The new European standard 

Wero is the official, direct successor to Giropay. Created by the European Payments Initiative (EPI), it aims to unify digital payments across Europe, starting with Germany, France, and Belgium.

• Keep it familiar: Wero functions similarly to the bank-direct methods your customers already trust, making it a natural, friction-free replacement.

• Future-proof your checkout: Wero is designed to become the pan-European standard, replacing local methods across the continent over time. Adopting it early positions your business perfectly for cross-border European growth.

Pay by bank: Open banking for instant transfers 

Pay by bank serves as an ideal, direct replacement for legacy bank transfer methods like Giropay. Leveraging open banking technology (under PSD2), it allows customers to pay directly from their bank accounts using their own bank’s secure infrastructure.

• Reduce checkout friction: The process is seamless. Customers simply select their bank at checkout, are securely redirected to their own banking app to authenticate (often via biometric data like a fingerprint), and confirm the payment. No manual data entry or new accounts are needed.

• Protect your revenue: Because payments are authenticated instantly by the customer’s bank, Pay by bank is a guaranteed payment method. This means you benefit from zero chargeback risk and heavily reduced fraud.

• Lower processing costs: By bypassing traditional card networks and offering an alternative to BNPL, Pay by bank provides lower transaction costs, helping you keep more of what you earn.

• Scale across Europe: With support for transactions in both EUR and GBP across a broad network of major banks in over 20 European countries, it offers the broad market coverage you need to grow across borders.

Want to offer your customers a seamless bank transfer experience? Discover how easily you can accept Pay by bank with Mollie.