SOFORT Banking

Overview

Direct credit transfer system designed to allow the immediate delivery of goods and services through instant notification and confirmation support, something not possible with a traditional wire transfer. DIRECTebanking.com does not require users to have a credit card, to fund a virtual account, or even register, but it enables them to automatically trigger credit transfers to you. Sofortbanking's market share of online payments in Germany was 4% in 2010.

Workflow

1. When placing the order, shoppers in Germany, Austria, Belgium, Switzerland and The Netherlands can select SOFORT Banking as a payment option.
2. On the next page, customers can place their order.
3. To proceed to checkout and complete the transaction shoppers need to click the Finalize payment on SOFORT Banking button. They'll be redirected to the DIRECTebanking website.
4. A set of instructions on how to finalize the payment is presented to customers. They are required to select the country where their bank account is located and enter the bank sort code for Austria and Germany, first 3 digits of the account number for Belgium, the bank name for The Netherlands, and the Clearing number (BC-number) for Switzerland. On the next screens, shoppers will need to provide the name of the owner of the online banking account, and the account number, as well as the information they entered when registering for online banking. Orders need to be confirmed with a PIN or TAN (provided by the bank).