Giropay

Giropay is a system that can be used with some German banks.

Here are the advantages over SEPA:

• No chargebacks: Once payments have been made, they cannot be reversed by the customer, which reduces the risk of fraud for merchants.
• Immediate transaction confirmation: Merchants receive instant payment confirmation, allowing them to process orders immediately without waiting for funds to clear.
• Security: Giropay is very secure as it works directly through the user's online banking system and there is no need to enter credit card details or personal information on merchant sites.
• User friendliness : It is uncomplicated for users, as no registration or setting up of a separate account is required; any customer with online banking can use Giropay.

And here are the disadvantages

• Limited availability: Giropay is only available to customers of certain German banks.
• No international framework : Mainly serves German consumers and does not support international transactions as extensively as SEPA.
• Dependence on bank participation : The effectiveness and availability of Giropay depend on whether a customer's bank supports this payment option.