Online Bank Transfers
Online banking payment methods usually involve redirection of the customer to the online banking portal of her/his bank for authentication and confirmation of the transaction, after which the payment is immediately processed.
Alternatively, so-called Payment Initiation Service Providers (e.g. Sofort GmbH for payment method Direct e-Banking Deposit (Sofortüberweisung)) collect a customer's online banking credentials on their website and automatically initiate the bank transfer in the background.
Updated almost 6 years ago