Created by: Daria Levytska
Checkout
Coverage
| Countries | Colombia (CO) |
| Currencies | Colombian Peso (COP) |
| Min amount | 1,600 COP |
| Max amount | Bank dependent |
Capabilities
| Recurring | No |
| Refund | Yes |
| Partial refunds | No |
| Multiple partial refunds | No |
| Chargeback | No |
Principle of operation
- Selection at checkout
Customer must have a savings or current account with one of the 20 affiliated financial entities.
- Payment initiation
Customer start the payment process by selecting their bank and logging into their online banking.
- Authentication and authorization
Payment details are pre-populated, and customer authorize the transaction using their banking password and an additional security verification such as token, SMS, and others.
- Payment confirmation
Payments are processed in real time, directly from customers’ bank accounts.
- Merchant notification
Merchant receives a
notification
Webhook
confirming the payment status.
Daria is the author of this solution article.
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