Enable payments in the Basiq dashboard
The dashboard has leveled up! Enable payments for your solution, create different development application environments with ease and configure a single consent flow to capture data and payment details for a seamless user experience.
Recently we announced that Basiq was ‘Open for Payments,’ with our Collect API arriving to enable Smart Payments allowing businesses to securely access powerful data insights and execute payments via a single platform. The addition of financial data to payments provides essential information about a consumer’s financial situation, opening doors to a whole new world of solutions that will help make finance easier.
Enabling payments via the Basiq dashboard
With the addition of Collect to the Basiq payments API suite, extra features have been included on the Basiq dashboard to make it even easier to enable payments, configure application environments and test solutions before going live.
Create different development application environments
The dashboard enables easy creation of development applications and environments so you can better manage your solution’s release from ideation to going live.
Basiq payments can be processed in one of two modes: sandbox and production. These are what we call processing environments and you will need two applications setup – one for each mode. Luckily, it’s easy to do this in your application management via the dashboard.
🔨 Sandbox: For development
Our rich sandbox environment allows you to test Basiq’s payments API before turning on the switch to make live payments.
Payments processed in the sandbox environment are simulated (not using real funds). They will not reach real payment networks and therefore will not affect any institutions.
🚀 Production: When you’re ready to go live
Payments in the production environment are processed using real funds and are communicated using live payment networks with external payment providers and institutions.
For more information on the environments and setup for payments products refer to our developer docs here and the payments API docs here.
Speed to market with an out of the box consent UI experience
Our Consumer Data Right (CDR) compliant consent solution for capturing financial data consent, has been a game changer for fintechs using the Basiq platform. Why? We combed through the 300+ pages of CDR customer experience guidelines so you don’t have to. Basiq’s out of the box consent UI solution removes countless hours of dev work for fintechs and is easily edited via the live preview on the dashboard. Check out the full write up on our consent UI editor here.
With the addition of Collect to our payment product suite, we wanted to ensure the experience of enabling payments and the collection of payment consent was equally as simple. We have removed the need for fintechs to build their own debit authority management and embedded a drop-in UI control to facilitate the capture of payment consent details.
A simplified user experience
In summary, this means consent to capture financial data and authority to execute debits is captured in the one user flow, creating a seamless UX experience for users.
*Note: Debit authority management is not governed by CDR. Our debit authority management solution is an additional, ready to go, UI component you can drop into the existing CDR data consent solution UI, resulting in a single onboarding flow that helps to improve user experience and prevent customer drop off during onboarding.
How to enable payments via the Basiq dashboard
Check out the demo below to see how easy it is to:
- Set up different application development environments
- Enable payment consent collection in your consent flow via the dashboard editor
If you have more questions about our payments solutions, or are an existing Basiq customer that wants to get the ball rolling, get in touch with the team today via our contact us or firstname.lastname@example.org