🏦Banks

Accept bank payment methods on your application

This section gives you an overview of how to enable bank transfers, bank debits and bank redirect payment methods through PaySwitcher

Bank payment methods

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 PaySwitcher 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

Bank Debits

Bank Redirects

Bank Transfers