Pay by Bank is basically a modern version of payment in advance and the alternative to Klarnas Sofort Banking. Your customers still transfer the money directly from their bank account to yours before the order is processed, but instead of manually transferring the money outside your shop's checkout process, they are being redirected to their online banking login within the checkout process and directly confirm the payment there. You will immediately receive a confirmation from the customer's bank via us and will soon see the money booked onto your account.
Who can use Pay by Bank?
All customers who have set up online banking on their PC or smartphone and whose bank takes part in the PSD2 real-time bank transfer network. Over 80% of banks in the following markets participate and are supported by this payment method:
Austria, Belgium, Germany, Denmark, Estonia, Great Britain, Spain, Finland, France, Hungary, Ireland, Italy, Lithuania, Luxembourg, Latvia, Netherlands, Norway, Poland, Portugal, Romania, Sweden
Pricing
payever determines the fees and conditions for Pay by Bank individually for each merchant. Our prices are always fixed fees per transaction, there are no percentage fees of the purchase value (for medium to large shopping carts, our offer is hence significantly cheaper than a percentage fee).
If you are interested, please request an individual offer from support@payever.de.
Onboarding
If you are interested in this payment method or have any questions regarding the onboarding process, please contact support@payever.de to sign a contract with us.
You will then receive an API key which you can enter in your payever account in order to activate the payment method there. If you don't have a payever account yet, you can register a new account with us free of charge here.
Configuration & Setup
First open the Connect app.
In the connect app, select the Payments tab in the menu on the left-hand side and click the Install button on the Pay by Bank tile.
Once the installation is complete, enter your authentication details under API KEY (SubPPT). Under IBAN, enter the account to which the transfers should be made.
Under target network, select which transfer system you want to use - which one you will need primarily depends on where your customers are located:
- SEPA: Your customers are located in the Euro area (Germany, Austria, France, Belgium, Spain, etc.). This is the most commonly used option.
- SEPA INSTANT: You only want to serve customers in the euro area whose bank supports bookings in real time (background: some banks, while generally supporting Pay by Bank services such as ours, aren't able to execute bookings in real time, meaning while the customer is checking out with our pay by bank service, the payment is merely authorised, but not yet booked (the actual booking then takes place later that day or on the following working day). For those banks you'd have to wait longer to receive your funds and you'd also bear a certain (albeit rather low) risk, because a transfer that was accepted may still fail later on during the actual booking, for example if the customer withdraws cash from his account in between the authorisation and the booking, leaving the bank account without sufficient funds for the planned bank transfer. Please note that payever is not liable for this and will not reimburse you for cases like this - if you have already sent goods before the money has been received and the customer won't respond to your messages or call, you will have to bear the loss or take the customer to court by yourself. If you want to rule out such scenarios 100% and are willing to accept that customers of affected banks will not be able to use the Pay by Bank service as a consequence, please select the SEPA INSTANT option instead of SEPA).
- FASTER PAYMENTS: You want to use this payment method to serve customers in the UK only.
- Elixir: You want to use this payment method exclusively on the Polish market.
- EU DOMESTIC NON EURO: You want to serve markets within Europe that do not use the Euro as their currency (e.g. Denmark or Norway).
- EU DOMESTIC NON EURO INSTANT: Markets in Europe with currencies other than the euro, but only banks that support booking in real time (please take note of the explanations under "SEPA INSTANT" for better understanding)
- BANKGIRO, PLUSGIRO: You would like to use this payment method exclusively in Sweden.
After you have made your entries, click Connect.
You can make a few more configurations in the interface that pops up next:
- Redirect to shop after checkout: after payment has been completed, we automatically redirect your customers back to your shop straight away, without them having to click a button or actively confirm their return to the shop.
- Email notifications: We send notification emails to the registration or communication email address you have stored with us whenever a new successful payment has been received.
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Capture type: There is no capture in the literal sense for this payment method, as every transfer is requested immediately and is carried out by the bank at the earliest possible point in time (it is not possible to authorise a transfer and then have it booked by command later on ยด at a specific time). This option therefore only refers to when the payment in payever should receive the status PAID, but has no real impact on the time at which the money will actually be booked:
- Select Auto-Capture on Authorization if you want the payment to immediately receive PAID status (recommended).
- Select manual capture if the payment should initially receive the status ACCEPTED and only change to PAID when you confirm the receipt of money in payever (this can e.g. make sense if you check the receipt of funds in your bank account manually and then want to track and mark accordingly in payever which transactions you have already received the funds for).
- Select auto-capture upon delivery if you want the payment to initially receive the status ACCEPTED and only change to PAID when the shipping notification is sent to payever.
Cancellations & Refunds
Please note that this payment method doesn't entail any automated refund or cancellation functionality. Since payever doesn't have access to the transferred funds at any stage of the process (it goes directly from the customer's bank account to yours) and also has no way of automatically initiating transfers from your company account back to the customer, we can't arrange the return of funds on your behalf.
This means you have to transfer the corresponding amount back to your customers on your own initiative, e.g. via your online banking.
Liability & conflict resolution
Please note that our service only entails initiating a bank transfer to your bank account and passing the data that is needed for this to the different parties involved. We do not guarantee for failed payments (as part of a non-instant transfer) or for payments that are disputed by the customer or his bank. You as the merchant will therefore bear any associated expenses, risks and losses by yourself, unless you have signed a separate corresponding insurance contract elsewhere. We strongly recommend to check your bank account if the money was received before shipping the products.