Sign up for our newsletter
Open Banking payments
Enable instant, secure payments directly from your customer’s bank account
Felloh’s Open Banking payments initiate a bank transfer from your customer’s bank account directly to your business’s bank account, along with booking reference data for easy reconciliation.
.png)
About Open Banking payments
When Open Banking is set as a payment option on payment links or eCommerce transactions, your customer selects their bank. They are redirected to their banking app (if using mobile) or online banking to approve the payment. The transaction is processed via Faster Payments, meaning the money is deposited into your account immediately. Since payment links and eCommerce transactions are associated with booking references, these payments are automatically reconciled to the booking.
Why Open Banking payments
Open Banking payments are processed instantly via Faster Payments, offering quicker settlements compared to card payments, which often take over a day to process
This payment method is more cost-effective than card payments, reducing transaction fees
Automatically reconciles payments with booking references, saving time and reducing manual errors.
What Our Experts Say
While consumer behaviour is still heavily weighted in favour of card payments, in the 3+ years that Felloh has been offering open banking payments, we've seen 20% increases in the consumer adoption of this payment method. Our blended offer of open banking and card payments sets you up for the future while securely processing every payment today. Educating your customers about how their money is protected on a package (whether that's via the ATOL scheme, insurance, bonding or in a trust account) can help influence them to make the switch from card payments to open banking, saving your business money.
Caroline Rennie
CPO
Developer tools: How to integrate
Open Banking payments are enabled by default when you set up an eCommerce instance or create payment links. These can be turned off if you prefer not to accept them:
"methods": {
"open_banking": true,
"card": true
}
Documentation links:
Sample Question 2
.png)
