Payments Definitions Glossary

What is ELV?

More commonly know as Bankeinzug or Lastschrift, ELV is the main payment method in Germany. It works in a similar way to Direct Debit and has had a paper equivalent for decades.

NETBANX offers ELV as an additional payment option to its merchants

At NETBANX we know the German market and we know that not everyone wants to use their credit card online. That’s why we offer ELV and giropay as additional payment options, opening your business to two thirds of German online shoppers and allowing your customers to pay in their preferred way.

If you are thinking about expanding your business in Germany and would like to offer ELV contact us today.

More Payment Definitions

Asking yourself "what is PCI Compliance"? Find out about more payment terminology from our payments glossary, including what is: 1-Pay Direct | 3D Secure | Acquiring Banks | Address Verification System | Bureau Service Provider | Credit Card Payment Provider | Credit Card Processing | Credit Card Processor | Debit Card Processing | Deferred Billing | Dynamic Currency Conversion | Electronic Payments | ELV Payments | Giropay Payments | Internet Merchant Account | Merchant Account | Merchant Account Provider | Merchant ID | Online Credit Card Processing | Online Direct Debit | Online Merchant Account | Online Payment | Online Payments | Paperless Direct Debit | Payment Bureau | Payment Gateway | Payment Processing | Payment Processor | PCI Compliance | Shopping Cart