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Pay by Bank - US

The Pay by Bank - US API enables you to initialize the Pay by Bank consumer experience and receive Pay by Bank payments.

Pay by Bank (PbB) is a payment method that provides your consumers with an alternate payment option on your checkout page that sits alongside credit cards, debit cards and other alternative methods of payment. Pay by Bank uses Open Banking APIs to deliver real-time bank account validations to facilitate direct debit (ACH/ECP) bank account payments for you and your consumers. The geographical jurisdiction for PbB payments is the United States.

Your consumer is directed to a user interface (UI) to provide consent to digitally access their bank account information to facilitate the payment. After the consumer provides the consent, J.P. Morgan will send the tokenized bank account number, account details and account balance to you in a notification.

Here's the consumer's journey via the UI:

First time account linking
  1. Pay by Bank selection — The consumer selects Pay by Bank from the payment options screen.
  2. Consent — The consumer provides consent and agrees to the privacy policy and terms and conditions.
  3. Bank selection — The consumer selects their financial institution.
  4. Bank authentication — The consumer logs into their account.
  5. Account confirmation — The consumer selects the specific account they would like to link and provide access.
  6. Account connection — After a connection is established with the consumer’s bank account, the consumer is redirected to your site.

Benefits

  • Allows consumers to pay from their bank account of choice and authenticate via online banking software
  • Allows you to make data-driven decisions utilizing information obtained with consumer consent, reducing returns and payment fraud
  • Allows you to accept low-cost, integrated payments while improving the consumer experience