Payment methods overview

FinDock supports many payment methods through integrations with Payment Service Providers (PSPs). FinDock also natively supports some processing actions of certain payment methods directly on Salesforce.

This is an overview of the payment methods and their availability with supported payment processors.

Indicators

When an option is not applicable, it can mean either the method supports the feature but the given processor does not or the method does support the feature.

Terminology

FinDock uses the following key terms and concepts.

Payment Method

Payment method is the way your payer gives money. Each method has certain capabilities and restrictions. Importantly, the method usually determines the transaction processing fee and the fee for the channel (online, phone, mail, etc.) used to complete the payment.

Payment Processor

Payment processors are third parties, often called Payment Service Providers (PSPs), that process the actual payment. Different processors not only offer different payment methods, but also offer different pricing and services for the same payment method. FinDock does not touch the payment flowing from your payer to you through PSPs.

For some payment methods like SEPA Direct Debit, FinDock is a processor, but not as described above. FinDock generates and accepts the required files to collect payments through your bank. The bank handles the actual payments (money), while FinDock manages the payment transactions (data).

Entity

The entity is who can initiate the Payment. Some payments can only be created by the payer (customer). Others can be created only by the payee (Salesforce user). In some cases, both entities can create payments.

One-time Payments

One-time, or one-off, payments are executed only once.

Recurring Payments

Recurring payments can be executed several times over a specified or un-specified period. Recurring payments require a mandate to be stored in FinDock and can be collected through a Payment Schedule.

Multi-currency

Specific payment processors allow you to collect payments in more than one currency. Salesforce also has a setting to allow using multiple currencies in the org. However, FinDock only supports multi-currency for certain payment processors. More information can be found in our Multi-Currency article.

Multi-merchant

Specific payment processors allow you to create more than one (bank or merchant) account, so you can collect different payments on different accounts. More information can be found in our multi-Merchant article.

Refunds

Many payment methods allow you to refund payments. Restrictions, especially on partial refunds, may apply. In most cases, refunds are initiated through the PSP (via your merchant dashboard). FinDock updates Salesforce data accordingly based on notifications from the PSP. Certain payment methods, such as direct debit schemes, have specific rules and processes around refund handling.

Payment methods and processors

FinDock supports several types of payment methods and multiple payment processors. For some methods, FnDock can be used as a native Salesforce processor.

Checking available payment methods

To find out what payment methods are activated in a specific Salesforce environment, you can make a GET call to the /PaymentMethod endpoint of the FinDock Payment API or check from the FinDock Setup under Payment Processors & Methods.

Bank transfer

Bank transfers are typically initiated by the payer. Processing is handled between the banks of the payer (debtor) and creditor (your organization). You can create a custom payment method to capture specific types of bank transfer payments that are included in your bank statements and reports.

Cards

Card payments are typically credit cards, but can also be debit cards and other types of cards.

Credit transfer

Credit transfer payment methods are used for outgoing payments (payables).

Cryptocurrency

A cryptocurrency is a digital asset based on blockchain technology. The "coins" and transactions are maintained by the decentralized system of the given cryptocurrency where the data is kept secure through use of advanced cryptography techniques.

There are many cryptocurrencies, with more coming to the market. Perhaps the most well-known is Bitcoin, one of the first coins on the market and currently has the largest market share.

Direct debit

Direct debit payment methods are commonly used for recurring payments.

Online banking

Online banking is a broad collection of payment methods which enable paying through connected services and devices.

Payment request

Payment request payment methods that use a unique payment reference on the request for payment, such as invoices, donation request, and various forms of payment slips that are shared online or in print.

Wallet

Wallets, or e-wallets, enable payers to digitally store details, such as credit card information, that can then be easily accessed and used through digital service or devices.