Direct transfer in real-time, completely without credit card? In Germany and Austria, Instant Payment has long been standard. Many online shoppers prefer this payment method and no longer want to do without it – even when shopping abroad.

Fortunately, this easy method of payment has now arrived in Switzerland as well. Especially for online Comerciante with customers from Germany or Austria, activating "Pay by Bank" is worthwhile. Direct transfer offers a great opportunity to improve the payment process in their online shop, save costs, and achieve more sales.

With Payrexx, integration is so simple that Comerciante can already use the standards of the future today and, in the long term, benefit from satisfied customers.

What is Instant Payment and how does Pay by Bank work?

Instant payments or "Pay by Bank" are, in short: payments in real-time directly from one bank account to another bank account, without delay.

The payment from your customer's bank account to your Comerciante account at Payrexx now only takes a few seconds, instead of hours or days. And the payment with Pay by Bank is possible around the clock, 365 days a year, regardless of bank opening hours.

How exactly does a payment with Pay by Bank work?

Buyers who want to pay with Pay by Bank simply select this payment method at checkout and are then directed straight to their bank's e-banking, where they can confirm the payment. After that, the money is transferred to the Comerciante account within a few seconds.

The only requirement: The customer's bank account must support Instant Payment (already standard with most banks in Germany and Austria).

What does Instant Payment offer Swiss online Comerciante?

Many Swiss online shops also have customers from Germany and Austria. Both countries are strong e-commerce markets, and the demand for convenient and fast payment methods is growing. Particularly, Instant Payment is popular among many customers because:

• you don't have to enter card details: The payment process is faster and safer

• no app or registration is required: Anyone with a bank account already has e-banking

• everything is done instantly: No outstanding amounts or forgotten invoices

For Swiss Comerciante with customers from these countries, this means fewer abandoned purchases, lower costs, and less effort.

Who is the integration worthwhile for?

The payment method Pay by Bank is especially interesting for you as a Comerciante if you have German or Austrian customers, sell internationally or plan to, want to save credit card fees, or generally seek a faster checkout process.

Example: You operate an online shop with sports nutrition or craft supplies and receive many orders from Germany. If you offer Pay by Bank, you offer your customers a payment method they are familiar with, so they feel secure and are happy to shop with you. Thus, you benefit from more sales and even save fees.

What are the advantages for Comerciante?

• Low transaction fees (0.5 % instead of 1.3 to 3.4 % with many cards)

• Real-time payment (instant credit to the Comerciante account)

• Less fraud risk (payment is directly confirmed and the customer does not have to enter card details)

• Easier checkout (fewer abandoned purchases)

For Swiss Comerciante with customers from these countries, this means fewer abandoned purchases, lower costs, and less effort. Since Instant Payment is only available in Switzerland from mid-2024, not all Swiss banks yet support the new standard. Therefore, Pay by Bank by Payrexx is currently only available to Swiss Comerciante with customers from Germany and Austria. This means that integration is especially worthwhile at the moment if you also serve these markets.