Banks
Accept bank payment methods on your application
Last updated
Accept bank payment methods on your application
Last updated
This section gives you an overview of how to enable bank transfers, bank debits and bank redirect payment methods through Hyperswitch
Apart from cards (47%) and digital wallets (28%), bank transfer (9%) is the third most used payment instrument in the US. Banks as a payment method has several payment flows across the world and Hyperswitch provides support for integrating the below three common flows:\
Bank Debits | Bank Redirects | Bank Transfers | |
---|---|---|---|
Description | Bank debits pull funds directly from the customer’s bank account. Customers provide their bank account information and agree to a mandate to debit their account. | Bank redirects add a layer of verification to complete a bank debit payment. Instead of entering their bank account information, customers are redirected to provide their online banking credentials to authorize the payment. | Credit transfers allow customers to push funds from their bank account to the merchant's. Customers are provided with the bank account information they should send funds to. |
Payment confirmation | Delayed | Immediate | Delayed |
Payment Type | Pull | Pull | Push |
Supports recurring payments | Yes | No | No |
Supports refunds | Yes | No | No |
Supports disputes | Yes | No | No |