- What are Payment API’s?
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Payment APIs (Application Programming Interfaces) are a set of protocols and functionality that allow businesses to integrate payment processing capabilities into their websites or applications. They enable you to accept various forms of payments, such as credit and debit cards, bank transfers, and digital wallets, directly within your platform. By using a payment API, transactions can be securely processed, authenticated, and settled in real time, providing a seamless payment experience.
- How does a Payment API work?
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A payment API using Open Banking connects your website directly to customers’ banks. When a customer initiates a payment, the API securely connects to their bank and sends an authorisation request. The bank verifies and confirms the payment, instantly transferring funds to your business account. This reduces fees and speeds up transactions, while ensuring data security and compliance with Open Banking standards, providing a fast and secure checkout experience.
- What are the benefits of using a Payment API?
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Using a professionally maintained Payment API streamlines payment processing by integrating it directly into your website or app. It ensures real-time transactions, improving cash flow with instant fund transfers. Additionally, the API offers robust security features like encryption and fraud detection, ensuring secure transactions. Developed and supported by experts, the API is regularly updated to comply with industry standards, providing a reliable and efficient payment solution for your business.
- Why should I choose the Wonderful One API?
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The Wonderful Payment API is fast, simple and secure. You save a fortune on merchant processing fees compared to debit and credit card processing whilst benefitting from our expertise in open banking, and if that’s not enough you get to support our charitable giving platform, enabling hundreds of charities to process donations for free.
- Are my payments secure?
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At Wonderful, we prioritise security and compliance with advanced technologies and robust data protection. Our payment gateway meets all relevant regulations and standards and we continuously update our fraud detection systems to mitigate threats. Adherence to strict regulatory compliance ensures your peace of mind.
- How much will payment processing cost?
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1p per transaction. You'll have 2,000 transactions included within your plan. Any additional transactions will be billed at 1p per transaction, whether you process 1 additional transaction, or 100,000.
- Are there any setup costs or hidden charges?
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No, absolutely no hidden charges! Our Plus plan (£19.99/month) includes 2,000 transactions and full access our payment API. Any additional transactions outside those included in your monthly plan will simply be billed at 1p/transaction.
- When will I receive the funds in my bank account?
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The payment is instant. You will receive the funds usually within a couple of seconds. This is because the payment is processed in real-time, but the bank may take a little time to process the payment and make the funds available in your account.
- How will I process refunds?
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Processing refunds, whether partial or full, is seamless with our payment API. You can initiate a refund via a specific API endpoint, which then requires approval in your merchant dashboard. This process provides flexibility and allows you to delegate the final refund approval to designated team members. The intuitive dashboard ensures you have full control over refund management, streamlining the entire process.
- How do I integrate the Wonderful One API with my online store?
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To integrate the Wonderful payment API with your online store, start by completing the sign-up and verification process to obtain your API key. Next, follow our documentation to develop the integration into your website or app. This integration ensures secure and real-time transactions, providing a seamless checkout experience for your customers.
- How will I get the API credentials and documentation?
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When you complete the sign up and verification process, our team will provide you with the API credentials. You can also access the documentation online and if you have any questions or need assistance, our support team is available advise you.
