Link autofills your customers’ payment information to create an easy and secure checkout experience, increasing conversion rates by over 7%.
In addition to credit cards and debit cards, Link also supports US bank accounts for qualifying purchases. Like cards, qualified Link bank payments receive an instant authorization response and settle to your account in two business days (unlike other bank debit payment methods). Customers can save their bank account and pay using the bank tab.
To be eligible for Link instant bank payments, the following must be true:
In addition to the criteria above, we also look at a number of dynamic factors when determining whether to show instant bank payments, such as the order amount, customer purchase history, and more.
To accept Link instant bank payments, the merchant must have a proven history of accepting payments on Stripe — for this reason, Link bank payments will not immediately display after going live.
Once your customer selects “Bank” as their payment method, they’ll then go through a flow where they 1) consent to using Link, 2) add their email and phone to create their Link account, 3) log into their bank’s portal to connect and select their bank account 4) complete their bank connection and 5) complete their purchase.
Unlike credit card disputes, there is no process for appeal for bank payments.
Customers can dispute a payment through their bank for up to 60 calendar days after a debit on a personal account, or up to 2 business days for a business account. The customer’s bank can honor any dispute within this period.
When a dispute is created, Stripe sends both the charge.dispute.created and charge.dispute.closed webhook events and deducts the amount of the dispute and associated dispute fee from your Stripe balance.
Unlike credit card disputes, all bank disputes are final and there is no process for appeal. If a customer successfully disputes a payment, you must contact them if you want to resolve the situation.
When a customer disputes a bank payment, it invalidates the mandate associated with the payment method and you can’t reuse it. To attempt a charge again, you must resolve the dispute with the customer and collect a new mandate authorization.