Open Banking
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Overview
Open banking enables payments to enter your business account directly from your customer’s account in real-time. The entire transaction is processed through online banking.
Open Banking banking allows for transactions to occur B2C (Business to Consumer) without the need for needing a card processor to complete the payment. It is different differs from conventional card payment systems (Visa, Mastercard, and Amex). Open Banking processes the entire transaction through online banking.
Turning on
Open BankingYou can request the Open Banking feature directly within Blink - it is located onopen banking
To enable open banking for your Blink account, simply request the feature from the top right-hand side corner of the portal.
Once requested, Open Banking will be stimulated by an onboarding team member; after this you have made the request, one of our onboarding team members will initiate the process. Once the process is complete, your customers will be able to pay you using Open Bankingmake payments using open banking.
Using
Open Bankingopen banking
Once Open Banking open banking is enabled, your customer can select ‘Pay ‘Pay by Bank’ Bank’ as a payment option on the Blink Page and PayLinkspayment links.
Customers will only be required to enter their email and the amount when paying on a Blink Pagepage. There is no additional information necessary when your customer pays via a PayLinkpayment link.
Selecting ‘Pay By Bank’ will initiate the Open Banking open banking flow for the customer.
The customer will first need to select the bank they wish to pay from, and they will then be required to complete their bank’s unique authentication.
Once The payment process is complete once the customer has successfully authenticated the transaction with their bank and the customer’s bank accepts the transaction, the payment process is complete.
Both you and the customer will now be issued receipts for the payment if successful.
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Video tour - Paying via
Open Bankingopen banking on a
PayLinkpayment link
Paying a Paylink with Open Banking payment link with open banking (example. Revolut)
Open
Banking Transaction HistoryIf Open Banking is enabled, an Open Banking transaction history table will be visible to track transactions.
Once enabled, you can track your open banking transactions through the open banking transaction history table on Blink.
You can find this under Reporting→ Open Banking
Each transaction can also be viewed, which will pull up the relevant PayLink/Blink Page that the transaction was taken from.
This will also display banking.
View from which payment link or Blink page the open banking transaction originates.
View the status of the transaction: Success or FailedAs well as .
Additional details provided include the Date/Time, Customer Email, Source, Reference, Amount, and Unique Transaction Reference ID.
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Blink Slice Webinar - Open Banking in a nutshell |
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Relevant Articles |
Open Banking (Transaction History: Open Banking Payments)