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Wallet Database


21st of August 2016


  • Summary: Paydirekt is an account to account digital wallet for online purchases operating in Germany only and launched in Aug 2015. Paydirekt has been developed by Paydirekt Gmbh, which is a service to the German banks, supporting their operation and development of a sustainable process for online payments.

  • Website:

  • Status: Live

  • Market: Germany (Aug ’15)

  • Type: Bank Consortia

  • OwnershipPaydirekt Gmbh with the participation of 40 German banks.

  • Functions: Retail payments only

  • Payment Mode: Account to account

  • Channel: WEB

  • Roadmap: In-app, P2P

User Experience

  • Registration & set up: Registration must be done through user’s banking online. Therefore, user must be a customer of one of the participating banks. In the registration process users have to choose an user name and a password in order to validate and authenticate their payments. There is an app available on App Store and Google Play.

  • Making a payment: Payment is made through store’s website. Users have to select Paydirekt as a payment method and enter their user name and password to authenticate the payment. No need for double authentication.

Payment Flows & Technology

  • Merchant perspective: Paydirekt is not a party to the transaction. Paydirekt is just an additional function of the current account. The payment is made directly from the consumer’s bank account and sent to the merchant’s account. Paydirekt acts as a central software service for payment processing. In the payment processing Paydirekt collects transaction data, which goes beyond the scope of a normal transfer. These include, for example, delivery address and possibly the various items of the basket.

  • Security: The data of the buyer are encrypted according to the online banking standards. (Update to follow – Further information being obtained) 

Business Model

  • Strategy: Paydirekt is a service of the main banks in Germany. Those banks offer Paydirekt service to merchants and charge them for the use of Paydirekt.

  • Payee fee: To be negociated with the participating banks.

  • Payer fee: No charge for consumer. 

Performance Data

Contact (MobeyForum Members only)

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