Open Banking payments are authenticated directly between consumers and their own bank. Meaning that chargebacks that merchants traditionally pay because of card fraud or rejected card payments just disappear.
Some payments powered by Open Banking also offer near-real-time* transfers, so that the merchant receives the payment quickly and enabling them to ship their product or service as soon as possible.
Volt has developed a REST API for merchants, allowing you to offer the option to use Open Banking payments on your online checkout.
Step 1: You send an API call to Volt to let us know the payment details and we'll respond with a payment ID, which you'll use when you redirect your customer to us.
Step 2: Volt will then securely route your customer to their bank's online portal to confirm the payment.
Step 3: The payment is then sent directly from your customer's bank account to your bank account.
If you need any assistance during the integration process, please email us at firstname.lastname@example.org.
Let us know your thoughts about our product and integration process at email@example.com. Your thoughts will help us shape our product to help you.