A cheaper and more secure alternative for online payments

Payment initiation is a new type of payment method made possible with open banking. It lets your customers connect to their banks and authorise a payment directly from their accounts. No credit card or other payment provider is necessary – since practically everyone has a bank account, this is the most common payment method available. And since fewer third parties are involved, the merchant fees are significantly lower.

 

 

While credit cards are still the standard payment method for online purchases, they might mean high costs and high risks for merchants.Open banking, such als credit card payments, are instant, the merchants receives the payment in the immediately.

Payments directly from the customers bank account are an alternative that is at the same time cost-efficient and more secure for the merchant. On top they are an alternative for customers who do not want to use credit cards.

PSD2 allows regulated third-party Payment Service Initiation Providers (PISP) to initiate payments directly from customers bank accounts.

Instead of using a separate banking app or another online payment system, customers make payments directly through the website they are currently using. No need to look for a credit card, or to login to another payment service. All that needs to be done is authenticate with the bank, select the account to pay from and confirm.

From a visual perspective it all happens directly in the environment where customers make the purchase.

Funds arrive directly in your bank account like any other bank wire transfer. Your money is usually available within minutes instead of months, and without the risk of chargebacks.

 

Comparison of Online Payment Methods

     Credit Cards

+ Widespread (~35%)
– Fraud risk
– Chargeback risk
– Settlement delay
– Additional 3D verification
– 30% reluctant to use online
– Rolling reserve / holdback

     E-Wallets (Paypal…)

+ Widespread with younger audiences
– Chargeback risk
– Very buyer friendly
– Settlement delay
– Have to cash out from Wallet

  Flexible Risk Setup

+ Very common (>50%)
+ No additional registration
+ No typos
+ Lower cost
+ Lowest fraud risk
+ Highest availability
+ No chargebacks
+ Instant settlement

Customers pay via bank account without leaving your website

A consistent user flow is the secret to higher conversions and therefore more turnover for your website. Every additional step or external distraction increases the probability of a transaction being abandoned. Our payment initiation service integrates payments directly from your customers bank account – but without leaving your website. The userflow is in your design and fits in with your checkout process.

A consistent user flow is the secret to higher conversions and therefore more turnover for your website. Every additional step or external distraction increases the probability of a transaction being abandoned. Our payment initiation service integrates payments directly from your customers bank account – but without leaving your website. The userflow is in your design and fits in with your checkout process.

A direct payment via bank account is the most simple and secure payment method – but sending the customer to his bank to do the payment means inconvenience and the risk of typos or other mistakes that lead to abandoned of failed transactions.

Payment initiation integrates this superior from of payment directly into your checkout process: For the customer the customer there is hardly a difference to entering his credit card details as usual, while in reality he interacts directly with his bank account.

First the customer selects his bank. In the background our system starts to communicate directly with the particular bank and lets the customer authenticate and select the preferred account for the payment.

All transaction details have already been transferred in the background, so there is only one more click for the customer to finalize the payment. He remains within your process and can continue his user journey without interruption.

 

 

 

  Coverage

90% of banks in DACH
80% of banks in EU
8000+ bank APIs available


Step 1: Your customer selects his bank directly on your website out of 6000 partner banks. The design is adapted to match your brand.


Step 2: All transaction details are prefilled and transferred automatically to your customers bank for the payment.


Step 3: The payment is done instantly through the customers bank account but without leaving your checkout process.

 

A superior payment method implemented with one SDK

 

     Web Implementation

SignD provides a widget that is added to the website like other payment methods. The look can be adapted to comply with the layout of the website. Transaction data is then handed to the widget in order to be used during the payment.


     Mobile Implementation

A small SDK is provided to be integrated into the mobile app. It provides all the functionality to initiate the payment based on the purchases of the user and the payment details of the vendor. All payment steps are managed within the native app.

     Customization Options

Our payment initiations services are a whitelabel solution with extensive customization options: Adapt colors, fonts, logos and even phrases according to your CI/CD.

 

     Custom Naming

Our payment initiations services are a whitelabel solution with extensive customization options: Adapt colors, fonts, logos and even phrases according to your CI/CD.

 

Make your new customers smile, with a seamless payment initiation service in your design

 

FUTURE-PROOF Payment Services – How we differ from other PSPs

 

 

 

 

SignD combines best-of-PSD2 technologies into a seamless service with a consistent user interface.

Our design is neutral and can be adapted to your Corporate Design. Regardless of the variety of underlying components, the user flow will always be a consistent journey for your new customer.

 

 

 www.signd.id

 

 

 

 

DIMOCO Payment Services GmbH, located in Austria, is a PSD2 compliant payment institution regulated by the Austrian Financial Market Authority (FMA). As a licensed acquirer and PSP (payment service provider), DIMOCO Payment Services processes credit card payments and a variety of over 100 alternative payment methods for e-commerce merchants.

We offer merchants the secure environment of a regulated payment institution, tailor-made industry-specific payment solutions, innovative risk management tools and customised revenue-generating services.

 dimoco.eu/paymentservices

 

 

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