Instant bank transfers are like cash payments. Once the customer authorizes the transaction, it cannot be charged back or revoked.
High-risk merchants integrate instant bank transfer directly to the checkout page. All transactions begin and end on your site. The trusted alternative payment method gives your customers another way to pay you. With no risk to you.
Instant bank transfers are an alternative payment method. Giving your customers an additional way to pay you rather than using cards, ACH or echecks.
Customers pay you directly from online bank accounts. All transactions are authorized by the customer in real time.
It’s simple. The more ways customers can pay you, the more orders you receive.
Although cards and ACH/echecks are the most popular ways of paying online, not all shoppers want to reveal sensitive card or bank details on an ecommerce site. Lots of shoppers are concerned about fraud, identity theft, and security issues and may hesitate revealing information, particularly if buying from you for the first time.
Instant bank transfers give shoppers a way to pay you without revealing sensitive financial data. It is the safest way for customers to pay you privately and discreetly.
The biggest issue for high-risk merchants is keeping chargebacks under control. Card transactions can be charged back up to 180 days. ACH up to 60 days. Echecks up to 40 days.
For businesses selling high ticket items, a single chargeback or revoke can jeopardize existing merchant accounts. And for lower or average sales tickets, chargebacks and revokes can add up quickly and impact payment processing.
Instant bank transfers cannot be charged back or revoked. Promoting the payment method on your checkout encourages shoppers to pay you in this manner. Reducing the potential for chargebacks or revokes. And protecting your card, ACH, and echeck merchant accounts.
The following are more reasons merchants offer bank transfers as a payment option on the checkout page:
Instant bank transfers are a trusted payment method. Millions of Americans use bank transfers to pay household bills each month.
Now that familiar payment method can be integrated directly via API to your site. All transactions begin and end on your site.
The alternative payment method is different than cash apps where customers must take extra steps to pay you. The more steps required of a customer the higher the likelihood of losing the sale.
Application for an instant bank transfer account is easy and approvals are fast. Contact us today.