Open Banking

Three ways to integrate to Open Banking payments

Integrations… Did your stomach just drop? For some businesses an integration equals time, money and a whole lot of operational headache. But it doesn’t always have to be that way.

3 weeks ago • 3 min read

If you’re looking to integrate an Open Banking payments solution, this article will explain the three different approaches you can take to help you understand which is the best for your business. 

When evaluating Open Banking payments solutions, you need to consider how to integrate them into your existing platforms and processes so that your teams such as finance, customer support and sales can easily manage the payments in their everyday work lives. 

How to integrate Open Banking payments

1. Self-built integration and bank APIs

Whilst self-built integrations allow for a fully customisable payment flow, complex integrations with the bank APIs could take months to complete. Not to mention, the in-house headaches associated with getting regulated as a PIS (Payment Initiation Service), maintaining uptimes and relationships with the banks, which all take resource away from business operations and ultimately, revenue generation.

2. Partner with an Open Banking payments platform

Integrating through an Open Banking partner allows for a quicker journey to ‘go live’ than self-built integrations, while reducing the amount of engineering resources required. The timescales can vary with this method of integration dependent on the complexity of the platform's APIs, but usually takes no longer than a few weeks. This type of integration also requires sales and accounts teams to ensure the integration works efficiently with their current operations. However, the benefits often outweigh any negatives, as the platform handles all things bank connectivity, regulations, security and is on hand to assist with technical issues.

3. Through an existing partner integration

Existing partner integrations enable plug and play onboarding with little to no integration required. By integrating through an existing partner, such as PSPs, DMS or Ecommerce platforms, there are no extra operational processes for sales and account teams, as the integration consolidates and simplifies admin and reconciliation processes. All the benefits of Open Banking payments without the development time and operational headaches. 

Why Vyne?

We’ve worked hard to build the most intuitive and easy to use Open Banking powered account-to-account payment solution, and so Vyne Pay with bank enables merchants to offer fast, seamless, secure and fair payment experiences.

It couldn’t be easier to offer Vyne Pay with bank through our existing partner integrations; end-to-end in just a few steps. Vyne offers quick, easy development-free integration with an extensive number of partners, including BigCommerce, Cybersource, Wix, Adobe Commerce, WooCommerce, Keyloop, Pinewood, Automotive Transformation Group (ATG), Pay.com and Voracio Commerce, with more added every month.

Not looking to integrate through a partner? We also offer a single, simple API which allows for an easy direct integration with Vyne. You can check out our developer docs here.

Alternatively, Vyne’s no-code payment links provide all the benefits of Open Banking powered account-to-account payments such as fairer fees, instant settlement, fraud resilience and cardless payment experiences. Spare yourself the hassle of an integration as your business can start taking Open Banking powered payments within hours.

When evaluating Open Banking providers, TravelFX needed a solution which was mature, robust and easy to integrate. They needed the integration to be “easy and the team supportive”, and Vyne gave them just that as they were “guided through the process with dedicated Integrations, Support and Customer Success resource”. TravelFX opted to integrate directly to Vyne through our APIs. 

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Pendragon use Vyne Pay with bank through our integration with Pinewood Technologies Dealer Management System (DMS) to quickly and securely take payments across all their brands and dealerships.

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Ready to add Vyne Pay with bank to your business?

Get started with a simple integration to Vyne Pay with bank, and you can be cutting costs and boosting customer experience in no time. Click the button below to book a demo with our sales team.

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