Bankeinzug means that the company to be paid will collect the money, rather than bank transfer, where the party owing the money sends via instructing their bank.

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Note added at 2002-04-16 12:36:04 (GMT)
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Klaus mentions debit cards, which is not the same. Payment by debit card, again, leaves it to the individual to make payments as and when they please, as they wouuld with a credit card or a cheque payment. For certain contracts, like taking out a mobile phone etc., where regular monthly payments are required, companies want to ensure that payment of varying amounts are set up as and when they require them, so they will collect after having received a direct debit mandate.