Open banking

Owned by Sara Jacobs
Last updated: 20 December 2023
3 min read

 

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 allows for transactions to occur B2C (Business to Consumer) without needing a card processor to complete the payment. It differs from conventional card payment systems (Visa, Mastercard, and Amex).

Turning on open banking

To enable open banking for your Blink account, simply request the feature from the top right-hand corner of the portal.

Once 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 make payments using open banking.

 

 

Using open banking

 

 

  • Once open banking is enabled, your customer can select ‘Pay by Bank’ as a payment option on the Blink Page and payment links.

  • Customers will only be required to enter their email and the amount when paying on a Blink page. There is no additional information necessary when your customer pays via a payment link.

  • Selecting ‘Pay By Bank’ will initiate the 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.

  • The payment process is complete once the customer has successfully authenticated the transaction with their bank and the customer’s bank accepts the transaction.

  • Both you and the customer will now be issued receipts for the payment if successful.

  • If the customer’s bank declines the transaction, the customer will be directed to a payment declined page and the payment will not be processed.

Video tour - Paying via open banking on a payment link

Paying a payment link with open banking (example. Revolut)

Open banking transaction history

 

  • 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.

  • View from which payment link or Blink page the open banking transaction originates.

  • View the status of the transaction: Success or Failed.

  • Additional details provided include the Date/Time, Customer Email, Source, Reference, Amount, and Unique Transaction Reference ID.

 

 

Blink Slice Webinar - Open Banking in a nutshell

Blink Slice - Open Banking in a nutshell

 

Relevant Articles

Request a payment.

 

Open banking (transaction history: open banking payments)

 

My Blink pages

 

https://www.youtube.com/watch?v=e7coUJFAl2s