Overview
Note: This feature is currently only available to a limited number of merchants. We are gradually rolling it out over the coming weeks. You will be notified once Pay by Bank becomes available for all.
Pay by Bank integrates seamlessly with Kustom checkout to provide Finnish shoppers with a familiar and trusted way to pay. Here's what you need to know:
Shoppers can select Pay by Bank directly in the Kustom checkout interface
Payments are confirmed in real time through the shopper's banking app
Pay by Bank offers instant payment confirmation, enhanced security through bank authentication, and a frictionless checkout experience
What is Pay by Bank?
Pay by Bank is an account-to-account payment method that allows shoppers to pay directly from their bank account using online banking. This type of payment is widely used and trusted in Finland.
This payment method is beneficial for merchants because it can increase conversion rates in the Finnish market and provides shoppers with a familiar and secure payment experience. Shoppers benefit from immediate payment confirmation, bank-level security, and a seamless checkout process without needing to enter card details.
When will this payment method become available in my checkout?
Pay by Bank is available as an opt-in payment method for Finnish transactions. To enable Pay by Bank, please reach out to merchant@kustom.co with the following information: your merchant ID, that you want to add Pay by Bank for the Finnish market, and the date you want it added. We will add it as soon as we can for you.
Do I need to enable this payment method manually?
Yes, Pay by Bank requires manual activation from Kustom. Contact merchant@kustom.co to request Pay by Bank to be enabled for your account, and it will be added for eligible Finnish shoppers.
Fees, pricing, and settlement
Will there be any changes to my prices or additional fees?
Standard transaction fees apply for Pay by Bank payments. To learn more about enabling Pay by Bank for your checkout and for detailed pricing information, please contact merchant@kustom.co
How will settlements work when shoppers pay with this method?
When a shopper completes a payment using Pay by Bank, the settlement process follows your existing schedule. The payment is processed in real-time, and funds are transferred to your account according to your standard settlement timeline. You will receive settlements at the same frequency as your other payment methods.
When a shopper completes a payment using Pay by Bank, the payment is confirmed in real time. Funds are then transferred to your account according to your existing settlement schedule. You will receive settlements at the same frequency as your other payment methods.
Shopper experience
How will shoppers use this payment method in checkout?
When a shopper proceeds to checkout, they will see Pay by Bank as one of the available payment options. Here's what the experience looks like:
The shopper selects Pay by Bank from the list of payment options in the Kustom checkout
The shopper selects their bank
They are redirected to their bank's online banking
The shopper confirms the payment
The transaction is completed instantly
Do shoppers need to do anything different to use this payment method?
To pay with Pay by Bank, shoppers need a Finnish bank account and access to online banking. At checkout, they select their bank and confirm the payment.
Other questions
Do I need to make any changes to my integration or checkout?
You do not need to make any technical changes to your integration or checkout configuration. To enable Pay by Bank, please reach out to merchant@kustom.co with the following information: your merchant ID, that you want to add Pay by Bank for the Finnish market, and the date you want it added. We will add it as soon as we can for you.
Will this affect my reporting or order management flows?
Transactions made with Pay by Bank will appear in your reporting and order management systems just like any other payment method. You can view these transactions in your Kustom Portal, and they will be included in your standard reports. Your existing order management processes remain unchanged.