Salt Edge Payment Initiation

What Salt Edge Payment Initiation is

Salt Edge Payment Initiation lets businesses accept account-to-account payments from customers’ bank accounts through open banking. One API integration supports payment initiation at more than 2,700 banks across Europe and the UK. In the payment flow, a customer selects a bank, reviews and consents to the payment details, then authenticates and approves the payment with that bank. Authentication uses a redirect. Salt Edge says instant payments are processed 24/7 and usually finish within seconds; the API also supports both recurring and one-time payment frequencies, payment webhooks and refunds.

Listed uses include online commerce, e-wallet top-ups, loan repayments, corporate payments, and travel settlements and refunds. For corporate payments, businesses can use scheduled, bulk and batch options as well as recurrent payments. Standardised payment templates handle differences between banks and regions. Salt Edge describes itself as a provider of open banking API solutions for businesses. It says it is ISO 27001 certified and PCI DSS compliant, and uses TLS encrypted channels, multiple encryption layers and tokenisation. Its systems and services are monitored, and clients can use a 24/7 incident reporting channel. Salt Edge states a 99th percentile HTTP response time of 250 ms across public endpoints. Pricing is available by contacting sales or booking a demo.

Who it suits

Salt Edge Payment Initiation suits businesses that want to initiate bank payments across Europe and the UK through an API, including companies handling commerce, repayments, wallets or corporate transfers. Its scheduled, recurring, bulk and batch options may fit businesses with varied payment workflows.

Getting started

1. Visit the Salt Edge website.
2. Book a demo or contact sales to discuss pricing.
3. Integrate the API with your service.
4. Have customers select a bank, review the payment details and consent, then authenticate and approve through their bank.

Verdict

Choose Salt Edge Payment Initiation if your business needs account-to-account payments through open banking, with broad stated bank coverage and options for corporate payment workflows. Consider another service if you need a published price before speaking with sales.