Payment Services

BancNet’s Internet Payment Gateway service enables partner establishments or institutions to charge customers for goods or services purchased on their websites using funds from the customers’ ATM or debit card accounts. Payment is fast, convenient, and secure.

Features

• Available 24×7.
• Available to cardholders of BancNet member banks.
• Electronic reporting system and settlement through BancNet member banks.
• Two-factor authentication.

Benefits to Partners

• Increase sales with new mode of payment.
• Reduction in cash handling-related expenses.
• Increased security with less cash handled by brick-and-mortar personnel.
• Minimized erroneous data entry due to electronic reporting.
• Faster and easier posting of payments to the partner’s records compared to the traditional manual posting method.
• Faster collection of payments compared to conventional payments using cash or check (payments are automatically credited to partner’s account the next banking day).

Benefits to Customers

• More payment modes for online purchases.
• Convenient – available 24×7 with internet access.
• Secured – with multi-factor.
• Access services and products which can only be purchased online.