News Online payment system paydirekt:
Strong competition and other problems Thursday, 12.11.15 , written by Kathrin Staats Paydirekt has launched another online payment system in Germany. Other large providers such as Paypal, Amazon or Sofortüberweisung have long since established themselves as payment providers in online retailing. But paydirekt wants to convince millions of customers with more security in a short time. Can the payment system deliver what it promises? >
The new payment system paydirekt promises customers more security
In line with Christmas time, the highest turnover of the year, German banks have now introduced paydirekt, the payment service. After two years of preparation, since the beginning of November 2015, millions of bank customers from various banks such as HypoVereinsbank, Commerzbank, Targobank, Postbank and Ing-Diba can now pay easily and simply for online shopping with paydirekt . However, paydirekt still struggles with two problems: Only a few online retailers have integrated the payment service so far. In addition, there is an almost supernatural competition with Paypal.
Online trade: Almost every tenth euro is spent on the Internet
More and more customers are buying their goods online . According to a study by the Cologne Institute for Trade Research, about 9.4 percent of retail sales were made online last year, which corresponds to around 43 billion euRo . It is predicted that the online share of total retail sales will double in the coming years. Therefore, the participating German banks are “committed to a fast, easy and secure payment process in the fast- growing e-commerce market.”
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How does the new online payment system paydirekt work?
For many consumers, safety comes first when shopping online . In addition, uncomplicated numbers are just as important. This is precisely what the new payment method paydirekt now offers its customers. Because in contrast to the online payment provider Paypal, purchasing at paydirekt is not managed by third parties . Customers of the participating banks can pay for their purchased goods on the Internet directly from the current account . Participation in online banking is a prerequisite. Once the checking account has been linked to paydirekt, customers only need their password and password for the online shopping payment process. The input of the bank data when buying is so superfluous .
In contrast to the payment service Sofortüberweisung the payment also takes place directly via direct debit and not as a transfer. If the goods do not arrive at the buyer, he can cancel the payment . But not only buyers are protected, but merchants paydirekt offers a certain security . For example, if there is no money in the customer’s checking account, there will be no payment and therefore no shipping of the goods.
Does your bank offer paydirekt?
Whether your bank already participates in the new payment system, you can find out directly online at paydirekt. Use the banking search for this.
New online payment service paydirekt promises high data security
Paydirekt promises its customers more security, especially when dealing with personal data . Because in contrast to the American payment provider Paypal, the payment process at paydirekt takes place exclusively between the bank and the merchant. This dispenses with an intermediate provider in the payment processing. This protects customers from passing personal account information or shopping cart information to merchants when paying . Another aspect is that all servers run in Germany and paydirekt thus subject to the strict German data protection law and the German banking secrecy.
Critic: Paydirekt has no chance in the market
A big challenge for paydirekt is now, in addition to dealers, to acquire enough customers . The competition is strong: Paypal has more than eleven years experience in the field of digital payment and in Germany alone some 16 million active users. Another problem with the customer search for paydirekt is the activation of current accounts. For now, customers can only link one account to paydirekt . If consumers use two or more current accounts, they must opt for an account. This is also disadvantageous for the banks. “Because only one bank earns money per customer for use”, says the Süddeutsche Zeitung.
Online retailer: Where can customers already pay?
What paydirekt payers on the dealers, is still unclear . At Paypal, merchants pay an average of 1.9 percent of revenue per transaction. In order for paydirekt to assert itself with more merchants, the payment service would have to demand significantly lower fees. So far, only four online retailers , such as the candy manufacturer Haribo or the online furniture store D-Living, are offering the new paydirekt service to German bank customers. Whether before the Christmas business, even more dealers want to test the new payment system, is questionable.
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- Kathrin State
- editorial staff
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