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Offering bank payment options is no longer a secondary consideration—it's a competitive necessity. While digital wallets and cards dominate in some markets, direct bank payments are the go-to method in others. Regions across Asia, Europe, and Latin America often favour bank transfers because they're familiar, trusted, and deeply embedded in local financial habits.
If you want to reach more customers and close more sales, you need to meet people where they already are. That includes making bank payments an easy, visible choice.
Why offer bank payments?
- Lower transaction costs: Bank transfers often bypass the fees associated with card networks.
- Wider global reach: Many local payment methods (LPMs) are built on bank infrastructure—especially in emerging markets.
- Customer preference: In places like Indonesia, the Philippines, and Brazil, paying directly from a bank account is standard practice. Ignoring this can mean lost revenue.
- Higher trust: Bank payments can feel more secure to customers wary of sharing card details online.
How it works
Bank payments typically happen through one of two flows:
- Online banking authorisation: The customer selects their bank during checkout, logs in via a secure interface, and approves the payment.
- Reference code transfers: The customer gets a payment code at checkout and uses it to complete the transfer via ATM, mobile app, or in-branch.
Some systems support real-time confirmation. Others rely on asynchronous settlement. Choose the approach that fits your operating model and customer expectations.
Key considerations when implementing
Streamline the checkout experience
Don't hide the option. Make "Pay by Bank" clearly visible alongside card and wallet methods.
- Use intuitive buttons and localised labels.
- Support mobile-first designs, especially in regions with high smartphone usage.
- Offer clear instructions if additional steps are required (like copying a reference number).
Support local payment methods (LPMs)
Adopt methods that align with local norms. A few examples:
- Indonesia: BNI, Mandiri, CIMB Niaga VA
- Philippines: UnionBank, BPI
- Thailand: PromptPay, KBank
- Brazil: Pix
Work with providers who already support these LPMs. Integration is simpler and success rates are higher.
Prioritise security
Bank payments rely on sensitive information. Invest in:
- Strong encryption protocols
- Two-factor authentication (2FA)
- Real-time fraud detection
Security isn't just about compliance. It's a trust signal.
Prepare for international expansion
If you're selling across borders:
- Handle multi-currency pricing and settlement
- Localise payment pages and instructions
- Stay compliant with banking rules in each market
A global-ready bank payment setup removes friction before it starts.
Explain the benefits to customers
Be direct about why someone should choose bank payment:
- No need to enter card data
- Lower or no transaction fees
- Instant confirmation in many cases
Use short tooltips, FAQs, and simple messaging during checkout. Keep the value clear.
Business impact
Offering bank payments delivers tangible benefits:
- Reduced payment failure rates - Especially in areas with low card penetration or unreliable mobile connections.
- Fewer chargebacks - Bank payments are typically push-based—there's no issuer to reverse the transaction.
- Higher conversion in local markets - Customers are more likely to complete purchases when they can use familiar methods.
- Improved margins - Lower fees mean you keep more of every sale.
You also align with the global shift toward account-based, cashless payments—without being locked into one digital wallet or card scheme.
In short
Expanding your payment offering to include direct bank transfers isn't just a nice-to-have. It's a practical step toward serving more markets, winning more trust, and simplifying the checkout process.
If your customers already pay by bank in their everyday lives, they should be able to do the same with you.
