What is Fio Banka?
Fio Banka is a Czech bank that provides services at more than 80 branches throughout the Czech Republic. It offers a wide range of products for personal and corporate finance solutions.
The relevant online payment method associated with Fio Banka is a direct bank transfer, typically through pay-by-link. Customers can pay online using their own bank account, without any credit card needed. The key benefit of this method is that it doesn’t require customers to rewrite data or order transfers manually. All it takes is logging into the bank and authorizing a pre-defined transfer order generated at checkout.
How does Fio Banka work?
When customers confirm orders at an e-commerce store, they can finalize them by heading to the payment section. Next, the customer chooses Fio Banka from the list of payment method options available at checkout.
The customer will be redirected to their Internet banking account. Once the customer logs into their account, they’ll be presented with a payment order already filled out. This is convenient since all the data from the order will be already there – including the account number of the e-commerce store. All the variable symbols – for example, the order number – will be entered automatically.
After the customer confirms the payment order, they’re redirected back to the store, where they soon receive information about the status of their payment.
Why do merchants and consumers use Fio Banka?
Using the Fio Banka transfer payment solution is fast, simple, and secure. By adding it to their e-commerce stores, merchants can simplify the customer experience by offering an easy and trusted local payment method that increases the convenience and comfort of making online payments.
Customers don’t need to open new accounts or remember passwords – they simply use an existing bank account and internet banking service. All payments are completed in Fio Banka’s online banking application, and communication between the e-commerce business and Fio Banka is encrypted using security certificates.
How can merchants start accepting Fio Banka?
Integrating Fio Banka is quick and straightforward – but merchants must first choose a payment gateway that offers this option as an online payment method. PayU is deeply immersed in the Eastern European e-commerce landscape and offers Fio Banka as well as a number of other popular local banking applications as options for merchants to offer their customers at checkout.