What is BECS Direct Debit?
BECS Direct Debit is an automated payment method allowing merchants to take payment from buyer bank accounts in Australia and has two core features, around which most of the system revolves:
It offers pull-based payments: Upon successful completion of Direct Debit request, the vendor can then initiate Direct Debit payments without any further action needed from the buyer.
Direct Debit payments are bank-to-bank transactions. No card networks are involved. As a substitute, the banks communicate directly through the Bulk Electronic Clearing System (BECS).
A direct debit is an automatic transfer of money between two accounts. Direct debit can be used to pay regular bills such as your monthly phone bill or gym membership. If you have an automatic payment set up, you won’t need to remember to pay your bill, and you won’t be charged late fees.
Accept BECS Direct Debit payments through Stripe
Stripe is an international leader in online bank-to-bank payments. Their service manages the entire payment collection process on your behalf. You can choose to collect and manage buyer payments in a variety of ways: either by using the simple Stripe online dashboard, through one of our pre-built integrations with billing and accounting software, or by developing your own integration using the Stripe REST API
Preview payment flow of BECS Direct Debit: https://v0n15.sse.codesandbox.io/
- Secure online payments from Australian bank accounts in the Magento 2 store.
- Easy integration of Stripe BECS Direct payment method with your own business website, e-commerce, marketplace websites
- Show custom information at the checkout step
- The buyers can select the payment method at the checkout page, enter the bank account details like account holder name, account holder email, and the account number, and click the “Place Order” button to place the order.
- Facilitates the admin to check the buyers’ payment details from the sales order view backend.
- For backend orders, the admin may also specify Stripe BECS Direct Debit as the payment method and enter the bank account details to submit the order.
As a result, the extension plays an important role in enhancing the store’s online payment security and shopping experience.
By using Stripe, we can accept payments from Cards, iDEAL, Bancontact, SEPA Debit, Klarna, Alipay, WeChat Pay, Apple/Google Pay.
We are ready to integrate iDEAL in your website, Please get in touch with us through following options –