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.