sophiazhang98

Adding Pay by Bank Account as an additional payment option within your checkout offers your customers more choice. It’s an alternative way to pay and means customers don’t need to enter their card details at checkout.
HSBC Open Payments could help you deliver a smoother checkout process for your customers. It could reduce fraud risk, as authentication takes place within your customers’ online or in-app banking platform. It’s easy to integrate with your website and it could save you money: HSBC Open Payments charge a fixed fee per transaction, while debit and credit cards typically charge you a percentage of transaction value.
Highlights:
• Real-time settlement: Payments are made in real time via Faster Payments, and sent directly to your HSBC Business Current Account or Virtual Account. 
 • No interchange fee: We charge a fixed fee per successful payment initiation, as opposed to charging a percentage of the transaction value as is typical with debit and credit cards. 
 • Reduced fraud risk: You get increased data security, as there’s no need for the customer to key in sensitive financial information on your website in order to make a payment. This helps reduce the risk of details being stolen. You also reduce your risk of fraudulent chargebacks as Open Payments uses Faster Payments, an irrevocable single immediate payment type. 
 • Reduce your basket abandonment rate: By avoiding the need to key in debit or credit card details to make a payment, your basket abandonment rate can reduce. Customers who don’t have these details to hand are still able to complete a payment.
How does it work?
<ol>
<li>When your customer selects Pay by Bank Account, you request a payment to be initiated from their account through the HSBC Open Payments Application Programming Interface (API).</li>
<li>Your customer is securely redirected from your checkout page to their bank account provider’s mobile banking app or online banking portal, where they can authorise the payment.</li>
<li>The payment is credited to your HSBC Business Current Account in real time via Faster Payments.</li>
</ol>
Eligibility:
This plugin is provided by HSBC UK Bank Plc (‘HSBC UK’) for existing HSBC UK Open Payments customers. If you’re not an HSBC UK customer but are interested in using the plugin, find out more about our range of award-winning Business Current Accounts here: Compare Our Business Bank Accounts – HSBC UK. Existing HSBC Business Current Account holders should contact their Relationship Manager to find out more about eligibility and how to start using HSBC Open Payments.
<h3>3rd party services</h3>
Our plugin use <a href="https://www.zendesk.com/company/privacy" rel="nofollow ugc">Zendesk widget</a>. 
Widget CDN URL [https://static.zdassets.com] 
This helps to quickly contact us from the plugin settings.

HSBC Open Payments

Enable Pay by Bank to receive payments through Open Banking

finheroteam

Our plugin connects your store to the FinSys ecosystem, enabling customers to submit loan applications directly to participating lenders through a streamlined financing workflow.
By embedding financing into the customer journey, merchants can offer unique funding options to their customers and receive fast approvals through FinHero’s FinSys technology, which automates the underwriting process. The plugin tracks order flow with customized status codes that give merchants real-time visibility into the loan application status. Upon approval, merchants are paid in full upfront (less fees), while repayment and credit risk are managed by the lender, with no risk to the merchant.
Key Features: 
* Loan Application Integration: Automatically generates and submits loan applications from WooCommerce order data. 
* Secure Data Transmission: Captures and transmits borrower information securely via the FinSys API for compliant and reliable processing. 
* Real-Time Status Sync: Updates WooCommerce order statuses instantly when lenders approve or reject applications. 
* WooCommerce Block Compatibility: Fully compatible with modern WooCommerce Checkout and Cart Blocks.
<h3>External Services</h3>
This plugin connects to external FinHero’s FinSys API services to process financing applications. No data is sent to these services until a customer explicitly selects “FinHero Financing” as their payment method at checkout.
The plugin connects to the following domains depending on the environment selected in the settings: 
* Production: https://finsys-api.finhero.asia and https://api.finhero.asia 
* Staging: https://finsys-api-stage.finhero.asia
When Demo mode is selected, the plugin does not contact any external FinHero service. It uses an internal mock flow within WordPress so merchants can test the financing journey without live API credentials.
Service Details:
<ul>
<li>Authentication (login)
<ul>
<li>When: On checkout, when the customer places an order using FinHero financing.</li>
<li>Data sent: Merchant API credentials (Client ID and Client Secret).</li>
<li>Purpose: Obtain a JWT access token to authorize subsequent API requests.</li>
</ul>
</li>
<li>File upload (uploadFile)
<ul>
<li>When: When a customer uploads a supporting document (e.g., identity card, payslip) during the financing application.</li>
<li>Data sent: The file contents and file metadata (name, type, size).</li>
<li>Purpose: Securely transfer customer documents to the FinSys platform for underwriting.</li>
</ul>
</li>
<li>IHS submission (ihs/submission)
<ul>
<li>When: Immediately after the customer places an order using FinHero financing.</li>
<li>Data sent: Order details (product name, purchase amount, currency, merchant information).</li>
<li>Purpose: Create a financing application record (IHS) in the FinSys platform.</li>
</ul>
</li>
<li>IHS update (update/{ihs_id})
<ul>
<li>When: When the customer completes and submits the financing application form.</li>
<li>Data sent: Customer personal details (name, email, address, identification number), employment details, and income information.</li>
<li>Purpose: Finalize the loan application with the customer’s full details.</li>
</ul>
</li>
<li>IHS status transition ({ihs_id}/transitions)
<ul>
<li>When: When a WooCommerce order status changes or is cancelled.</li>
<li>Data sent: The IHS record ID and the transition action (e.g., CANCEL or AWAIT_DISBURSEMENT).</li>
<li>Purpose: Keep the financing application status synchronized with the WooCommerce order.</li>
</ul>
</li>
</ul>
Legal and Privacy:
These services are provided by FinHero. By using this plugin, you agree to their terms and privacy policies: 
* Terms of Service: https://finheroasia.com/terms-of-use 
* Privacy Policy: https://finheroasia.com/privacy-policy

Consumer Financing by FinHero

Boost conversions by offering customers innovative funding options for their purchases in their WooCommerce checkout flow.

HSBC Open Payments vs Consumer Financing by FinHero