Online Payments

Straal Direct Payments

Innovative payments based on Open Banking

Join the open banking revolution

The Payment Services Directive 2, broadly known under the acronym PSD2 is one of the most revolutionary pieces of European legislation regulating the financial services sector. It has, among others, enabled the materialisation of the idea of open banking. According to PSD2, all banks operating in the EU are now obliged to give authorised third parties secure access to bank accounts of their clients. One of the services enabled by this obligation is payment initiation. Straal Direct is here to help your business join the open banking revolution and get ahead of the game in whatever segment of the e-commerce market you operate.

How it works

Straal Direct is an innovative payment method that utilises open banking APIs to let your customers initiate smooth, bank-secured payments right at your digital checkout. All they need to do to make a transaction is select their EU bank from a list, log-in to their e-banking system, and confirm the operation. You, as a merchant, receive an instant notification of the transaction being successfully initiated and can start the fulfilment process right away. The money is wired directly from the payer’s bank account to yours via SEPA or, in the case of the UK market, BACS.

Improve cash flow

As Straal Direct is based on direct bank-to-bank transfers, the money never gets locked on the accounts of third parties involved in payment processing. The funds become available as soon as wired from the payer’s bank account to yours.

Boost conversion

Straal Direct can increase your reach and conversion rates. Card organisations look at some types of business with reserve, which translates into increased costs of payment processing and leads many companies to abandoning cards for wallet apps and peer-to-peer means of payment. Those, in turn, might have a negative impact on conversion rate as usually require customers to install special apps or set user accounts. With Straal Direct, merchants from industries underserved by card organisations can effectively collect payments directly from customers, with no middlemen in the process.

Unlock new markets

In some market segments and countries, consumers prefer not to share their card details online. However, they still are interested in purchasing goods and services. Thanks to Straal Direct, you can target such consumers, offering them a smooth payment experience based on their e-banking platforms.

Eliminate chargebacks

If you struggle to reduce the number of chargebacks, we have goods news for you. Accepting payments via Straal Direct eliminates the problem entirely as direct bank-to-bank payments are not subject to the chargeback mechanism. All transactions are authenticated within e-banking systems of your payers and as such do not need extra consumer protection measures. It is the bank who takes responsibility for fraud prevention.

Accept Payments with Straal. Effectively.

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