This payment method is an offer from our partners Santander Consumer Finance & Openbank and enables your customers to pay for their purchases in monthly installments, while you as a merchant receive an immediate and complete payout of the total amount from Openbank.
Please note that you therefore need a contract with Openbank in addition to a payever account (create for free) in order to be able to offer this payment method.
Terms and conditions
Openbank sets the conditions for installment purchases individually for each retailer. Please request an individual offer at support@payever.de to find out more.
The installment purchase payment method is offered by default for amounts between €50 and €750 (you may be able to agree different rules with Santander). When using one of our plugins, these limits are usually set automatically so that the payment method is not displayed if the amount is outside this range.
This payment method is only available for customers based in Germany.
Please note that installment purchases can only be offered to consumers (not suitable for corporate customers, not intended for use in the B2B sector).
Please also note that no different delivery addresses may be entered for this payment method (fraud prevention). When using one of our plugins, this is set automatically so that the payment method is not displayed if a different address is entered.
Process
After completing the payment, the customer is forwarded to Openbank, where they simply enter their date of birth and agree to a credit check. If the customer completes and submits this form, a scoring algorithm makes a decision within a few seconds. If the result is negative, the customer is asked to choose another payment method; if the result is positive, the customer sees a corresponding success message.
If the customer receives approval, they must then verify their mobile number by entering a one-time code sent by SMS. As a final step, the customer is offered the option of arranging a direct debit for the monthly installment collection (however, this is optional; alternatively the customer also has the option of actively transferring the installments).
When the goods are shipped, the transaction is activated, i.e. your customer receives their payment details for the first installment by email and you receive the corresponding total amount. You must therefore notify us or Openbank of the shipment. You can do this directly in the payever account (Order details -> “Hand over goods”) or (if you have integrated the invoice purchase into an online store) by setting a specific trigger in your store system or ERP (depending on the type of integration and systems used). Alternatively, you can also set the Autocapture option in payever, in which case activation takes place automatically when the transaction is approved by Openbank (see the Settings section for more information).
Please note that the capture or dispatch of goods must always take place within the period agreed for this in your contract with Openbank (in the standard case this is 30 days) - if no capture takes place within this period (neither autocapture nor manual capture), the payment expires at Openbank, receives the status Rejected/Failed in payever and can then no longer be used (cannot be paid out).
The funds are paid out to you directly by Openbank, not via payever. You can agree the payout frequency (e.g. daily, weekly, monthly) individually with Openbank. It usually takes 1-2 working days after Openbank initiates the payout for the amounts to be credited to your account. You will also receive a regular report from Openbank (by email or SFTP) about the payouts, which looks something like this:
Installation & configuration in the payever account
To access the payment methods, first open the Checkout app. To do this, either click on the checkout symbol in the Business Apps tile or on the Checkout tile.
Then look for the Payment options tab on the left-hand side in the navigation bar.
As soon as the window opens, click on Add.
You should now see an overview of possible payment methods. Look for the Openbank Installments DE field and click on Install.
Once you have successfully installed the payment method, click on Open to enter the access data. You will receive your access data (API key) from Openbank by email.
Once you have successfully established a connection, you can adjust the settings.
Firstly, you can determine whether the customer should be forwarded directly to your store after completing payment or not. If this is activated, your customer will be redirected to your order confirmation page after completing payment. All you have to do is tick the box and click Done.
If you want to receive email notifications about newly received approved payments, check the Email Notifications box.
Please only select the Click and Collect option if you only want to accept payments for pick-up orders with this payment method or variant.
Check the box Should Remind Expiration if you want to receive a reminder by email a few days before the finalization deadline. If you activate this option, please also select the deadline you have agreed with Openbank in the field below (to be found in your contract - usually 30 days by default, but sometimes longer). If you have selected 30 days here, for example, and an accepted payment has not yet been captured/activated 27 days after receipt, you will receive a notification email from us about this transaction, reminding you that the deadline is approaching.
You can also choose whether you want automatic capturing or autocapture. If you have activated and saved this option, you do not need to take the step described above under Process for the goods dispatch notification (capture), as the activation of the transaction is then always triggered automatically by us as soon as the payment is approved. Please note that you may only use auto-capture if you fulfill the following conditions:
- You always ship your orders promptly (within approx. three working days of receiving the order).
- You only sell the stock you actually have in stock in your online store - i.e. you do not do drop shipping or order picking (order to manufacturer/wholesaler only when the customer places an order) and you do not produce items for individual orders.
These conditions must be met, as the payment period of 30 days also immediately starts for the customer, and they would therefore have significantly less time to pay or may even have to pay before receiving the goods.
Please also note that if you use auto-capture, you must cancel orders that have not been completed (e.g. goods not available/sold out for various reasons) consequently and promptly, so that your customers are not wrongly warned because of not completed payments.