Bank Validation: The Benefits In eCommerce

So everyone knows about address validation and how it really improves the quality of communications. It’s a rather cool tool. However, bank validation is one of the dark horses, it’s not mentioned as much as its peers; address and email validation but to be honest, it’s just as important.

As the world of banking transactions increases rapidly, so does the need for assuring payment details are captured correctly. Failed payments increase companies’ operating costs and cause inconvenience and customer dissatisfaction. Real-time bank validation technology enables faster and hassle free payments to help provide better customer experience.

The Benefits of Bank Validation:

• Help fraud protection
• Save money from avoiding failed payments
• Improve customer experience
• Avoid unnecessary operational costs

Bank validation ensures only valid bank details are collected and therefore improves the success rate of any payments made on your site. So if you have an online shop, or booking platform or anything like that, you can benefit from bank validation.

Will it integrate well?

The short answer is yes. If you choose a well-established company, they will have a service that can be installed and integrated into systems in mere minutes. You can have API integration if that suits your business – for example integration with Sage, Salesforce and Microsoft Dynamics. Or you can have shopping cart solutions API integration, such as Magento, OpenCart and Prestashop.

Eitherway, if you collect bank details or credit card details there is a need for bank validation and I’m pretty sure that once you have it you’ll be wondering where it was all along!

You could find out more about bank validation and perhaps even try a free trial!