Sofortzahlungen

Sofortzahlungen, or instant payments, are methods that enable the immediate transfer of funds from a payer’s bank account to a merchant, with confirmations typically within seconds. In German-speaking markets the most prominent example is Sofortüberweisung, originally developed by Sofort GmbH. The service was acquired by Klarna in 2014 and is commonly offered as Klarna Sofort in many markets.

Operation: At checkout, the buyer selects Sofortzahlung and is redirected to a secure Sofort page. There they choose their bank, log into online banking, and authorize the payment (often with a code or TAN). Sofort then transfers funds to the merchant and provides real-time confirmation. The merchant typically receives settlement immediately.

Scope and characteristics: It is a direct bank transfer method and does not require card details or a digital wallet. It is widely used in Germany and other European markets and supported by many e-commerce platforms. Acceptance varies by country and platform; it can offer faster checkout but may have different fees than card payments.

Security and regulation: The process involves the customer providing online banking credentials to the payment service, raising privacy and security considerations. Since PSD2, strong customer authentication (SCA) requirements influence how these payments are authenticated, often improving security. Users should exercise caution and ensure credentials are entered on trusted pages.