Goodbye interchange and scheme fees.
Hello to profit-boosting Pay By Bank
A new face-to-face payment method, empowering merchants to process in-store payments directly from their customers’ bank accounts, bypassing interchange and scheme fees, meaning higher profit margins for merchants.
How does our APM API Work?
This video demonstrates a typical Alternative Payment Method (APM) transaction in integrated mode.
It shows how APM seamlessly integrates with your current payment setup, highlighting the transaction flow from both the merchant’s and the customer’s perspective.
6 Simple steps to accept a Pay by Bank transfer with our app.
Simplified Checkout
When a customer is ready to make a purchase, the merchant simply selects the Pay by Bank option during checkout on their payment device or till.
QR Code Generation
The payment process then begins, and a unique QR code is generated and displayed on the payment device.
Seamless Bank Selection
The customer scans the QR code using their mobile device.
Secure Mobile Banking
Instantly, their mobile banking app opens, ensuring a secure environment for the transaction.
Customer Authentication
The customer authenticates themselves and authorizes the payment within their mobile banking app.
Smooth Transaction
Once approved, the payment is processed, and funds are seamlessly transferred from the customer’s bank account to the merchant’s account.
Benefits of Pay By Bank
Cost-Effective for Merchants
Pay By Bank eliminates Interchange and Scheme Fees, resulting in significant cost savings for merchants. Say goodbye to those fees that can often eat into your profits.
Universally Compatible
Our payment solution is not bound to a specific point-of-sale system, it is hardware-agnostic, meaning it seamlessly integrates with any merchant payment device. No need to invest in new hardware.
No Additional App Downloads
Our Pay by Bank solution requires no additional App downloads. Simply scan a QR code and authorise the payment within your mobile banking app.
Enhanced Security
Thanks to 2 factor SCA, Pay by Bank removes any fraud risk from incoming payments.
Additional Benefits
Enhanced Security
Streamlined Checkout
Accurate Records
Customer Loyalty
Pay by Bank transaction flow
This video showcases a typical APM transaction in standalone mode.
In this scenario, the alternative payment transaction occurs directly on a card terminal that is not integrated into an existing payment system.
MultiPay’s Pay by Bank analytical feature
This video highlights all the data available to customers using MultiPay Connect.
It showcases key data points related to alternative payments, providing valuable insights for optimising payment strategies.