paydirekt is an online bank transfer payment method, deployed by the private, co-operative as well as savings banks in Germany.

At checkout, the customer selects the name of their bank and logs into their online banking environment. They review the pre-populated payment details, authorise payment and then simply wait for the purchase to arrive or their account to be updated in the case of a service.

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Type Bank transfer
Company behind LPM German private, co-operative and savings banks
Market share details Around 1,400 banks and Sparkassen, 2.5 m consumers and 10,000 online merchants are registered for paydirekt.
Market relevance Medium

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