Sofort (Sofortüberweisung) is an online payment system from Sofort GmbH for online cashless payments. This procedure is a system of pseudo-advance payments. The seller does not receive a payment, but an immediate confirmation of payment. As a result, most retailers act as if they have paid up front and release items or downloads right away.
Transactions are carried out as follows: the buyer transfers the online PIN code of his bank account, which he usually strictly protects from access by third parties, as well as the TAN, which is valid for only 1 transaction. After checking the account balance, the latter makes a transfer to the merchant and immediately gives him a confirmation of the transaction.
Sofort is aimed mainly at residents of European countries and is often used by fans of online casino games. However, it can be used to make a deposit, but not to withdraw funds.
The advantages of the system include:
- High level of payment security through the use of online banking rather than credit cards
- Zero percentage of chargebacks
- Ability to create customer accounts
- Outgoing payments, including via API
- High speed of payments
- Working with high-risk services
