Feature RequestThis is an on-demand feature. Please raise a request with our Support team to get this feature activated on your Razorpay account.to get this feature activated on your account.
Advantages
- No need to open foreign bank accounts With Razorpay, you will get access to the Sofort payment method without any extra paperwork or compliance. You do not need to open a foreign bank account to accept bank transfers from your European customers.
- No card? No problem! Customers who do not have access to cards can use Sofort to pay through their bank accounts, making it easy for you to sell products in foreign countries with lower card coverage.
- No chargeback or frauds Avoid unnecessary chargebacks or frauds with an authorised bank transfer solution.
- Instant confirmation Receive instant payment confirmation, unlike Swift transfers which can take days.
- Higher transaction amount We support payments up to $10,000.
- Automated fast refunds Sofort’s automated international refunds encourage customer loyalty, increase in basket size, and more frequent shopping.
- Currency Conversion Customers can initiate payments in their native currency and payments will be settled in your Indian bank account. Razorpay’s pay in native currency feature will ensure that your European customer is shown the right currency.
How it Works
Given below is the workflow:1
Step 1
After the payment method is enabled for your Razorpay account, it will appear automatically on Checkout without additional integration.
2
Step 2
Your customer opens Razorpay checkout and selects Sofort as the payment method.
3
Step 3
Razorpay redirects the customer to a Sofort-hosted payment page with a list of available banks in their country.
4
Step 4
The customer chooses the bank and logs into the online bank account.
5
Step 5
The customer selects the account to make the payment and completes the additional factor of authentication.
6
Step 6
The customer completes the payment and is redirected to your website or app.
Pricing
Sofort payments are charged at 3.0%.Refunds and Settlements
- You can refund customer payments made using Sofort by following the usual refunds process.
- Sofort payments take T+14 days to get settled to your Razorpay account.
Supported Integrations
For Standard Checkout no additional integration is needed.Supported Countries
Given below is the list of countries that support Sofort payments:- 🇦🇹 Austria
- 🇧🇪 Belgium
- 🇩🇪 Germany
- 🇮🇹 Italy
- 🇳🇱 Netherlands
- 🇵🇱 Poland
- 🇪🇸 Spain
- 🇨🇭 Switzerland