Mar 14, 2025 •
The classic bank transfer can become a serious competitor to established payment methods such as credit card or direct debit - if it is used correctly. But how can SEPA payment methods be used to create a free competitor product?
In recent years, payment service costs have risen steadily – partly due to inflation and rising provider fees. This means higher expenses for merchants, while customers often do not receive an improved user experience. Better alternatives are therefore needed that are efficient, secure and, above all, cost-effective.
At the same time, SEPA Instant Payment was rolled out, enabling real-time transfers. If used correctly, this will make the classic bank transfer a serious competitor to established payment methods such as credit cards or direct debits. But how can SEPA payment methods create a free rival product? Gini QR-Code Payment provides the answer.
How does QR code payment work?
At checkout, the customer is shown an individual QR code. They scan this with their preferred banking app, and all payment details are transferred automatically and error-free. The customer then confirms the transaction with their bank—quickly, securely, and without manual input.
Are you wondering if customers will do the same? More than 10 million customers already use this function every month, for example, to pay paper bills.
The advantages for retailers in detail
- Fast incoming payments: As payment is made directly by bank transfer (also via SEPA Instant), merchants receive their money faster than with conventional payment methods, without any detours to their account. This improves liquidity and enables orders to be processed quickly.
- No additional costs: Unlike other providers, use here is free of charge for merchants and customers. This is an attractive alternative, especially in view of rising payment costs.
- Minimization of errors and chargebacks: Automatically transmitted payment data prevents typing errors and makes assigning the payment to the respective order easier. Chargebacks or rejected transactions are a thing of the past.
- Simple integration: Implementing the Gini QR code is uncomplicated and does not require any complex technical adjustments. Merchants can get started in just a few minutes without dealing with complex payment gateways.
Advantages for customers:
- Simple and convenient: The entire payment process is intuitive. Customers don’t have to enter an IBAN or payment details; they just scan and confirm the QR code.
- Maximum security: Because the payment is made via the familiar banking app, customers benefit from their bank’s highest security standards, including two-factor authentication.
- No additional account required: Unlike other payment methods, customers don’t need to register or download a new app – they simply use their usual online banking.
Conclusion: A win-win solution for everyone
The Gini QR code payment uses the possibilities of SEPA Instant and makes the payment process more efficient for merchants and customers. Merchants benefit from fast, error-free payment receipts, and customers enjoy a convenient and secure payment method without additional costs or effort.
Future-proof the checkout process and offer your customers a modern payment alternative. Find out more and register at: https://gini.net/en/e-commerce/qr-payment/
At Gini, we want our posts, articles, guides, white papers and press releases to reach everyone. Therefore, we emphasize that both female, male, and other gender identities are explicitly addressed in them. All references to persons refer to all genders, even when the generic masculine is used in content.
