Accept open banking payments

Accept bank transfer payments with open banking

Effortlessly expand your online business reach and operational efficiency by seamlessly integrating fast, secure open banking payment acceptance.

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Accept bank transfer payments with open banking

What is open banking payment acceptance?

It is a modern financial model that allows customers to pay for goods and services directly from their bank account. Instead of manually entering card details, the customer initiates a secure, bank-to-bank transfer through their own banking app. This method bypasses traditional card networks, resulting in lower transaction fees for you and near-instant settlement.

Accept bank transfer payments efficiently

Experience fast and efficient payment collection as you easily accept bank transfer payments from customers in key European markets including Lithuania, Germany, and the Netherlands. Unlike card payments that can take days to clear, open banking transfers move funds almost instantly between bank accounts, drastically improving your company’s cash flow.

Strategic advantages of bank-to-bank payments

When you accept bank payments through our platform, you unlock several institutional benefits:

Higher conversion rates: Streamline your checkout process by allowing customers to pay with a few clicks via their banking app.
No chargebacks: On top of added security, you benefit from the finality of transactions, as there are no chargebacks within the open banking system.
Lower operational costs: By avoiding card interchange and assessment fees, you can save 1–2% per transaction.

Get up-to-date reports

Stay informed and in control with our service, providing you with comprehensive, up-to-date reports on sales and transactions. Keep a constant pulse on your business’s financial landscape and make informed decisions with confidence.

PSD2 and PCI DSS compliant payments

You can rest assured – we authorize payments and ensure payers’ safety. PSD2 and PCI DSS compliance are crucial for payment processors, guaranteeing secure transactions and protecting both customers and merchants from potential fraud or data breaches.

Integrate ConnectPay with all your systems

Get our plugin, add our credentials and start accepting open banking payments – it’s that easy.

More about Plugins

Directly integrate with our developer-friendly Merchant API

Our guides and documentation allow you to build and deploy unique tailored solution for payment collection

More about APIs

A single powerful dashboard

Our Merchant Dashboard was developed with business needs in mind. It includes versatile tools to manage the entire payment workflow. You can issue refunds, manage payments and payouts, check payment status and get access to detailed analytics, all without leaving the dashboard.

Accept bank transfer payments FAQs

How do I accept bank transfer payments on my website?

To accept bank transfer payments, you first need to open a business IBAN account with ConnectPay. Once onboarded, you can integrate our open banking module via a plugin or our developer-friendly API, allowing your customers to select “Pay by Bank” at your checkout.

Is it safe to accept bank payments via open banking?

Yes. Every transaction is authenticated through the customer’s own bank using Strong Customer Authentication (SCA), such as biometric face ID or fingerprint scans. This makes it significantly more secure than traditional card entries.

Which countries are supported for bank payments?

Our open banking solution currently offers high coverage in the UK and key EEA markets like Lithuania, Germany, and the Netherlands. We are continuously expanding our network to include more banking connections across Europe.

What is the difference between open banking and a manual bank transfer?

A manual transfer requires the customer to copy and paste your IBAN and reference number, which is prone to error. When you accept bank payments via open banking, all payment details are pre-filled, and the transaction is initiated automatically upon customer authorization, ensuring faster and more accurate settlement.

Are there limits on how much a customer can pay?

Limits are typically set by the customer’s individual bank and their specific account type. However, open banking is often used for higher-value orders that might exceed traditional card limits.