Verde™ is an open banking app that integrates directly into your website checkout page. When customers are prepared to checkout and payment they don’t have to stop mid-flow and look for a credit card nor a checkbook. Those days are over.
With our new instant bank-to-bank direct debit transfer technology, online shoppers simply need to know where they bank and how to log in. Here’s how it works;
1. BUYERS IDENTIFY THEIR BANK.
At checkout, the buyer will select their bank from a directory of over 11,000 US banks and credit unions.
They will see 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.
2. LOGIN (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. SIMPLY, 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).
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.
When a brand new, first-time customer buys from your website our order tracking system performs an Account on-boarding (AO) and a Risk Verification (RV). A fee of $1.50¢ will be deducted from the total sale. A one-time processing fee of 3.25% is applied to the transaction.
Subsequent Transactions: Discount Rate Is No Longer Applied
When the same customer revisits your online store for future purchases, only the $0.75⊄ transaction fee will apply. In other words, once the customer is registered in the system, our payment processor will only charge the Available Balance Verification (ABV) per each transaction. We will re-verify their risk once every ninety (90) days or upon receiving an update to their bank account. This unique pricing structure makes Verde™ up to 300% less expensive compared to traditional credit card processing.
Verde™ also called or pay by bank-account-direct debit functions on a website after our basic eCheck platform is installed first. The basic eCheck service is typically activated within 24 hours of approval.
Please allow 3-5 business days for Verde™ to be activated on your account. Once activated, you can utilize Verde™ through our Shopify, WooCommerce, and OpenCart shopping cart plugins!
Need a price quote? Call or email today!