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Instant Bank Direct Debit
Say Goodbye To Credit Card Chargebacks
Transactions authenticated only after the buyer enters their shipping address details, a phone number, and logs into their personal bank portal via Username & Password known only to them.
Welcome to next generation e-Commerce security.
1. SELECT YOUR BANK.
At checkout, the buyer will identify their bank from a directory of over 3,000 US banks and credit unions. It’s the same interface you’d see if you were to log in to your own bank’s online portal. To reduce the risk of losing the sale, shoppers are never diverted from website checkout page.
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2. LOGINÂ (AS YOU NORMALLY DO)
The buyer will log into their bank’s secure online portal with the same User ID and password they’ve always used in the past. There is no need to enter a routing number or account number. This feature makes bank direct debit faster, more secure and easier to use than credit cards online.
3. CLICK TO PAY
The online shopper confirms the dollar amount of the purchase by and it’s done. The transaction is completed within seconds.
Funds settle in the merchant’s bank account the same day (or within 24 hours depending on the bank).
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Same Day or 24 Hour Approval
100% in-house underwriting. No credit check. No mountains of paperwork needed.
Integrates With Most Popular Website-builders
WordPress, WooCommerce, Shopify, Wix, PrestaShop, 3dCart, Big Commerce, Magento, and many more.
Easy 'Click & Pay'
Online shoppers enter their bank account User ID & password, verify the amount of the purchase, and 'click-to-pay'.
Click the green box to test drive how Instant Bank Direct Debit works. Simply scroll to the center of the page and walk through the checkout process.
This is a Verde™ demo modeled after our customer facing checkout page.
Acceptable Products
- Marijuana/ Cannabis (must be a licensed dispensary. Customers may prepay online and pick-up with proof of valid I.D.)
- All Hemp-derived CBD Products; oils, isolate powder, gummies, topical rubs. (No lab COAs required.)
- Kratom & Kava Kava
- Paraphernalia; Glass, Pipes, Bongs, Grinders
- Neutraceuticals & Herbal Remedies
- Restaurant Take-out (eliminate all risk of charge-backs & credit card fraud)
- Cash-only businesses are strongly encouraged to use Bank Direct Debit to eliminate the risk of COVID-19 transmission.
- Must have a valid business bank account in the USA. (Sole proprietorships are gladly accepted with proof of a business bank account that matches the DBA name)
- Submit a clear color-copy of your Drivers License, State I.D. or passport. (Must be from the owner or a company principal.)
- Sign and return the Credit Card Authorization Form & Checking Account Authorization Form.
- Sign and return the Arbitration Agreement, the Refund Policy, Signature Card, and Compliance Statement.
- Must have an active website with an SSL certificate. Our gateway plugin is compatible with all website builders.
Rates & Fees
Same Day or 24 Hour Approval- 3.25% + $0.49 cents per transaction
- The $0.49 cent transaction fee applies only to the customer's first purchase. This fee does NOT apply to subsequent transactions by the same customer.
- Integrates with over 170 popular website design builders
- Same day settlement of funds (depending on the time of purchase)
- Unlimited daily, weekly & monthly transaction volume
Risk Verification: $0.49
Available Balance Verification: $0.49
When a brand new customer buys from your website the first time, our Instant Bank Direct Debit software performs an Account Onboarding (AO) and a Risk Verification (RV). A fee of $1.33⊄ will be deducted from the total sale. Our processing fee of 3.25% discount rate is also included.
When the same customer revisits your website for future purchases, only the $0.49⊄ transaction fee will apply. This unique price structure makes instant bank direct debit up to 300% less than accepting credit cards. Once the customer is registered and approved, the processor will only run the Available Balance Verification (ABV) for each transaction. We will re-verify their risk once every ninety (90) days or upon receiving an update to their bank account.
INSTANT BANK DIRECT DEBIT is here. Sell #ANY legal product online, even cannabis, bongs, kratom, CBD, you name it! No chargeback risks and same-day settlement of funds. https://youtu.be/UsttABITTZc
“As the pandemic worsened, chargebacks skyrocketed 25% to 40% compared with a year ago, according to Chargebacks911, which helps retailers manage disputes.”– http://a.msn.com/00/en-us/BB15o6OK?ocid=st
NEW DATA: The Impact Of Transaction Declines And Disputes On The Consumer-Merchant Relationship – https://www.pymnts.com/credit-cards/2020/merchant-consumer-transaction-dispute-decline-paay/
Merchants brace for ‘friendly fraud’ surge as holiday shopping moves online https://www.americanbanker.com/news/merchants-brace-for-friendly-fraud-surge-as-holiday-shopping-moves-online
