Payments overview

Understand different payment types within Vyne

Payment types

Payment initiation

Take single instant, domestic bank-to-bank payment. Consumers can pay using a bank transfer from their account directly to your merchant account.

Consumers are presented with a payment summary and can authorise payment with a single step.

Recurring payment initiation

Set up a schedule of instant, regular payments in a single authorisation. Receive subscription-style instant payments on a monthly schedule with using a bank transfer from your consumer's account directly to your merchant account.

Consumers are presented with a payment summary for future regular payments and can authorise all payments with a single step.

Refunds

Make a refund of a Vyne payment direct to the consumer's bank account. A refund will initiate a bank transfer from your account directly to the bank account from which the payment was originally made.

Consumers receive a payment into their account from your merchant account. The refund amount can be any amount up to the full amount of the original payment.

Requesting a payment

Vyne is easy to fit into existing application flows, and integrates with both mobile and online banking to remove guesswork for your developers. Flexible checkout options integrate to a range of use cases allowing you to take payment across a wide range of use cases.

Vyne provides two checkout options:

Checkout

Description

Use case

Hosted checkout

Built and hosted by Vyne

Fast and simple to integrate, with no need to build any checkout flow.

Integrated checkout

Built and hosted in your application

Completely customisable, with assets provided by Vyne to build a bespoke checkout in your application.

Although the payment flow differs depending on the experience, it follows the same core stages:

  1. Bank selection and consent - where the consumer can filter to select the bank they wish to pay with and consent to the payment
  2. Authentication and authorisation - where the consumer authenticates with their bank and authorises the payment requested.
  3. Confirmation - where the consumer is provided with a confirmation of the payment by the merchant.

Stage

Hosted experience

Integrated experience

Bank selection and consent

Merchant generates a link or QR code to redirect the consumer to the Vyne hosted checkout page, where the consumer can select a bank and consent to payment.

Merchant uses data and assets provided by Vyne to build a bespoke checkout within their own site, where the consumer can select a bank and consent to payment without redirecting away from the merchant site.

Authentication and authorisation

Consumer is redirected to mobile or online banking.

Consumer is redirected to mobile or online banking.

Confirmation

Consumer is redirected back to the merchant site, where confirmation of payment status is shown.

Consumer is redirected back to the merchant site, where confirmation of payment status is shown.

Receiving a payment (incl. settlement accounts)

Vyne can use two different types of bank account for receiving payments:

  • Operational account (merchant-run funds-in account)
  • Settlement account (Vyne-run funds-in account)

The bank account you provided during onboarding is your operational account and is linked to your Merchant account when it's created. You can link multiple operational bank accounts to your Merchant account, and a destination account is specified when creating a PIRPIR - Payment Initiation Request or RPIRRPIR - Recurring Payment Initiation Request to allow you to choose where to route payment.

You can also choose to use a settlement account. A settlement account is an e-money account in your name. The account is managed by Vyne and allows us to offer enhanced payment initiation features for applications that require:

  • Confirmation of funds received (SETTLED status)
  • Refunds
  • Sweeping (single daily funds-in for reconciliation)

How do settlement accounts work?

Once a settlement account is set up, you can direct payments to the settlement account rather than directly into your operational bank account. Every 24 hours, the funds from settlement accounts net refund balance and fees are swept to your operational bank account in a single transfer. Read more about how to set up and use a settlement account here.

Supported countries and currencies

Vyne provides 99% coverage of retail banking in the UK including all the CMA9 and challenger banks, plus over 1000 connections across 28 European countries, with key coverage in Germany, Italy, Spain, France, Ireland, and Austria.

Currency

Payment types

Country

GBP

Single payments, recurring payments, refunds, payouts

GB

EUR

Single payments

AT, BE, BG, CY, CZ, DE, DK, EE, ES, FR, GR, HR, HU, IE, IS, IT, LI, LT, LU, LV, MT, NL, NO, PT, RO, SE, SI, SK


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