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Giropay is leaving Germany. This means businesses need to adapt by finding a reliable open banking alternative. Here, we take a look at other companies that can meet your business needs, reviewing the features they offer.

Why Is Giropay Leaving Germany?

Paydirekt, the company behind Giropay, has decided to discontinue the service. The company will discontinue the payment method on 31 December 2024, as stated on its website. This was decided by Paydirekt shareholders.

Giropay struggled to compete and establish itself as a rival of PayPal in Germany. Launched in 2015, Giropay merged with Paydirekt as a unified mobile and online payment system. This initiative was backed by major German banks, including Commerzbank, Comdirect, Deutsche Bank, HypoVereinsbank, Postbank, and the Sparkassen finance group.

Plans to discontinue Giropay came just before the launch of Wero, a Europe-wide startup backed by the European Payments Initiative (EPI). With Wero's debut imminent, stakeholders and market observers felt it would further weaken Paydirekt, which struggled to gain traction in Germany's market, according to Finextra.

If you’ve used Giropay, it’s time to explore alternatives. Fortunately, there are other options for implementing pay-by-bank payments for German customers.

How to Choose a Giropay Alternative

Now you’ve begun your search for an alternative to Giropay. Yet before choosing a new pay-by-bank provider, it may be valuable to ask yourself some key questions to ensure the new payment partner meets your requirements.

  • Identify Your Target Markets

When choosing a pay-by-bank alternative, it’s important to identify the regions where your customers are located. For instance, do you require pay-by-bank services beyond Germany? Knowing your markets will help narrow down your search.

  • Look for Industry-Savvy Providers

Start by asking trusted sources for recommendations and checking online reviews. Compile a list of potential providers and evaluate their experience in helping businesses like yours. It’s always a good idea to select a provider with a solid track record in your industry.

  • Determine Your Specific Needs

Consider the unique requirements of your business. For example, do you need specific features, add-ons, or reporting and analytics tools? Clearly define these needs when selecting a new pay-by-bank partner. 

Giropay Alternatives for Merchants in 2024

Let’s have a look at some of the Giropay pay-by-bank alternatives that serve the German market.


Noda is a global payment and open banking provider, ideal for instant business transactions. We operate in the UK, EU, and Canada, and are expanding into Brazil. Our services support a wide range of currencies, catering to globally-minded clients. We partner with 16,500 banks across 27 countries, covering over 30,000 bank branches.

Noda's advanced Open Banking API allows online businesses to easily integrate pay-by-bank transactions. In addition to payments, Noda helps merchants with know-your-customers (KYC), lifetime value (LTV) forecasting, and user experience (UX) optimisation. Noda’s other payment products and features include:

  • Card Payments: Noda’s card payment processing includes smart AI routing and acceptance recovery technology. Our advanced software analyses transactions, directs them to the ideal acquiring bank.
  • Checkout Form: Offers intuitive UX and UI customisation, with the checkout process matching the merchant's infrastructure.
  • Bank Payouts: We are using FPS and SEPA immediate payment schemes to transfer money to your payees in real time.
  • Card Payouts: Fast payouts to cards through our global and localised card payment routes, delivering funds in real time.
  • Sign In via Bank: Allows clients to sign into a merchant’s website or app using their bank account.
  • Know Your Whales: Provides valuable user insights to merchants right after the first transactions.
  • E-commerce Plugins: Offer streamlined open-banking payments through easy integration via e-commerce plugins. The platforms include WooCommerce, OpenCart, PrestaShop, Magento, BigCommerce.

Who Is Noda Best Fit For?

Noda is ideal for businesses focused on accepting online payments, especially in e-commerce, travel, gaming, and other industries. It suits those who need both pay-in and payout capabilities across a wide range of countries. With direct connections to German banks, Noda offers competitive pricing by avoiding middlemen.

Learn More About Open Banking

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Klarna is another choice for businesses looking to operate in Germany. Founded in Sweden in 2005, Klarna, originally a buy-now-pay-later (BNLP), provider, now serves many countries, including Germany, with a range of payment solutions.

Klarna's Open Banking APIs make it easy to set up pay-by-bank transactions. Klarna supports multiple currencies and payment options, helping you reach a wide audience. Here is its full list of payment solutions and features:

  • Checkout: Covers hosted payments, pre-integrated with popular e-commerce platforms. It offers customer identification and buyer and seller protection.
  • In-store Shopping: Integration-free Digital Card solution and an integrated QR code solution. Payments start in the Klarna app, connecting to Klarna's shopping services ecosystem.
  • On-Site Messaging: Displays BNLP financing options and promotions directly on product pages, helping to inform customers about payment choices before checkout.
  • Express Button: Allows customers to quickly complete their purchase by logging into their Klarna account. Their information is pre-filled, enabling a one-click checkout experience.
  • Subscriptions: Enable customers to pay for recurring services using their preferred payment method. Customer information is saved and pre-filled for a simplified process.

Who is Klarna Best Fit For?

With a big focus on BNPL, Klarna's target clients are online and in-store retailers, SMBs and consumers seeking flexible payment options. These are often younger Millennials and Gen Z customers who prefer spreading out their payments rather than paying upfront.


Adyen is a global payment and open banking provider. Founded in 2006 in Amsterdam, Adyen has grown significantly, with offices in San Francisco, London, Paris, and Stockholm. 

Adyen's Open Banking APIs make it easy for online businesses to integrate pay-by-bank transactions. Adyen supports over 100 payment methods, including credit cards, digital wallets, and BNLP options. Adyen’s list of other products and features includes:

  • Online & In-Person Payments: Offers a seamless integration of online and in-person payment solutions, supporting a wide range of payment methods and devices.
  • Cross Channel: Unified commerce system connects online and offline payments,
  • Platforms: Integration with leading e-commerce platforms, offering plugins and APIs.
  • Authentication: Provides advanced authentication tools, including dynamic 3D Secure.
  • Risk Management: The suite includes customisable fraud detection, automated risk assessment, and configurable security rules.
  • Revenue Optimisation: Enhances payment processing through intelligent routing, retry logic, and real-time data analytics.
  • Insights: Delivers real-time insights and analytics, helping businesses understand payment behaviours.
  • Accounts: Offers comprehensive account management features, allowing businesses to handle multi-currency transactions and manage funds across various accounts efficiently.
  • Capital: Provides invite-only access to fast and flexible cash advances, with automated repayments and proactive risk assessments.
  • Issuing: Allows businesses to create and manage branded physical or virtual cards, complete with fraud prevention and detailed data insights.
  • Payouts: Enable quick and secure disbursements to multiple recipients, supporting global and multi-currency transactions.

Who is Adyen Best Fit For?

Adyen is best suited for businesses focusing on card and wallet payments, offering extensive omnichannel coverage for global enterprises. Pay-by-bank is an additional feature, available in select markets through various third-party providers. With the departure of Sofort and Giropay, Adyen provides pay-by-bank services in Germany through Trustly and Tink.

Final Thoughts

With Giropay leaving the German market, it's essential for businesses to find reliable alternatives. Evaluate your needs, target regions, and desired features to choose the right provider for your business, and remember – there is always a silver lining. You can use this change to improve your payment systems and support your business growth.