Direct is a payment service that enables you to transfer money Account-to-Account instantly.
By connecting your bank account to Brankas API, we offer you an efficient payment solution for businesses. You can transfer money from the payer’s account to the merchant, enhance the payment capabilities, offer more successful payment options to your customers, and streamline payment operations. Regardless of your business size, Brankas Direct can support you to optimize your payment strategy with greater success.
Funds are moved with industry-leading standard encryption technology in place and only with the payer’s permission. Brankas is constantly building relationships with financial institutions in the region so that you can access “Direct” to more people with a single point of integration.
Direct offers benefits to merchants and users. When compared to other payment methods such as virtual accounts, e-wallets, and card transactions, Direct offers the following benefits:
Single Integration - Unlock all payment options from one single integration. This saves time and effort to simply set up the integration once so customers can have better and faster access to the available payment options.
Customize Checkout - Customize your checkout page by using Brankas design elements. You can adjust colors, fonts, logos, and more to fit your branding needs for a seamless user experience.
Optimize operations - Understand your payment growth and success rate. We enable you to track payment growth and identify the most successful payment methods for customers. You can also maximize payment success rates without Merchant Discount Rate (MDR) and improve customer satisfaction to refine their payment, strategies, and businesses.
Direct has customizable features that can be enabled to best fit your business needs.
This feature is currently available in The Philippines and is applicable only for interbank transfers.
Reconciliation refers to the process of comparing two sets of records or accounts to ensure their accuracy and consistency. The purpose of this reconciliation is to ensure that the bank statement's recorded transactions accurately reflect to the merchant daily basis transaction activity with Brankas. Missing identifiers such as transaction ids make it impossible, resorting to identification by amount, timestamp, and running balance.
4 steps of the reconciliation process:
- Merchants generate settlement reports from the internal system.
- Reconcile the transaction against Bank financial settlements.
- Merchants to download transaction data from Brankas settlement report
- Following variables to prepare before we begin reconciliation activity:
- Reference ID
- Transaction ID
- Bank Memo
Note: Adjustment fees either add or subtract a centavo to the final amount, making the final amount the identifier. For example, PHP 100 will be PHP100.10 or PHP 108 will be 107.90. This feature is currently available in The Philippines and is applicable only for interbank transfers. Please inform the Brankas team if you are interested in using this feature
Transactional retries enable users to restart or retry transactions within the Tap session. This ensures that error rates and transaction id creation are kept to a minimum for better accounting practice. There are no limits to the number of retries.
Users can retry when incorrect logins are entered, the mobile key expires, and there is a concurrent login session or any transaction got canceled. When a user retries, they are redirected to either the TFA page if it is a pre-selected flow or the bank selector page.
Updated 3 months ago