finAPI in Smartstore: What Advantages Bank-to-Bank Payments Really Bring for Merchants

With the integration of finAPI in Smartstore, merchants have an additional payment option available that is gaining significant relevance in European e-commerce: bank-to-bank payments based on Open Banking.

finAPI is a Munich-based Open Banking provider that, according to its own representation, has been providing B2B financial software since 2008 and is authorized by BaFin for account information and payment initiation services. finAPI offers payment initiation directly from the bank account, supports SEPA transfers, instant payments and other payment types, and is active in several European markets. (finAPI)

For Smartstore merchants, this connection primarily means one thing: a direct, regulated, and bank-related alternative to traditional payment methods. Instead of using card networks or wallets as the sole checkout logic, the customer can authorize their payment directly from online banking.

Technically, this is not just a "bank transfer note," but a structured payment flow where payment data is already submitted and the payment process is controlled and initiated. finAPI describes precisely this process as a secure redirection to a bank selection and subsequent authorization in online banking.

1. The Central Advantage: Direct Payments Without Traditional Card Logic

The greatest strategic benefit of the plug-in lies in the fact that merchants can offer an account-to-account payment (A2A). This is economically interesting because this payment method is structurally closer to a transfer than to a card or wallet transaction.

finAPI explicitly positions Pay by Bank with lower fees, faster payments, and direct account payments. Especially instant payments can bring the amount to the merchant's account within seconds. (finAPI)

For merchants, this is particularly relevant in three areas:

• First: Margin. When transaction costs decrease, this immediately affects the contribution margin. This is especially relevant in margin-sensitive assortments such as electronics, commodity goods, spare parts, B2B needs articles, or price comparison-driven trade. finAPI states that its Shopware plug-in offers a transaction-based model without a base fee and emphasizes the cost advantages of Pay by Bank. Regardless of the specific pricing model of your Smartstore integration, the basic logic remains the same: direct bank payment tends to reduce costs compared to card-dominated procedures.
• Second: Liquidity. Where payments are received more quickly, merchants can deliver, reserve, or release orders faster. finAPI describes instant payments as real-time transfers available 24/7, pointing to credits within seconds. For merchants with tight cash flow, high inventory turnover, or pre-financed procurement processes, this is a true operational advantage. (finAPI)
• Third: Process Quality. In open banking payments, according to finAPI, the relevant payment information is already provided. This reduces input errors and lowers manual reconciliation efforts in accounting and payment reconciliation. This point is often underestimated: The advantage doesn't just lie at checkout but also in the back office. (finAPI)

2. What Smartstore Merchants Specifically Gain From It

For operators of a Smartstore shop, the finAPI connection is particularly valuable when it is understood not only as "another payment method" but as a targeted addition to the payment mix.

More Choice in Checkout

Not every customer wants to pay by credit card, wallet, or invoice. A direct bank payment can be particularly attractive to customers who consciously rely on traditional transfer logic or do not want to use card payments.

finAPI describes online bank transfers and SEPA-based payments as easily integrable payment options for online stores. (finAPI)

Faster Payment Confirmation

If your Smartstore integration integrates the finAPI flow cleanly into the checkout, a more consistent purchase process emerges than with a manual prepayment. Although the customer does not technically leave the store completely, they are guided through a secure payment process that is controlled.

This is significantly better than a traditional "please transfer to this IBAN" process because it reduces media disruption, typing errors, and uncertainty. finAPI describes precisely this advantage of pre-filled payment data and secure authorization.

Reduced Effort in Finance and Support

The more cleanly the payment is structurally initiated, the fewer inquiries arise regarding usage, incorrect transfers, or unclear payments. This relieves accounting and customer support. Merchants with high order volumes particularly benefit disproportionately from this.

European Scalability

finAPI offers Payment Initiation Services in several European countries and supports SEPA payments as well as other regional variants depending on the market and bank. For Smartstore merchants with cross-border business, this is relevant because an A2A strategy does not have to remain limited to Germany.

finAPI currently mentions 13 European countries with AIS and PIS coverage; at the same time, the company points out that availability may slightly vary depending on the country, bank, and account type. (finAPI)

3. The Most Important Use Cases for Smartstore Merchants

The strength of this plug-in depends heavily on the business model. Not every merchant benefits equally. From my point of view, the following use scenarios are the most important.

Use Case 1: High-Value Shopping Carts

With high order values, percentage fees quickly become painful. This is precisely where Pay by Bank can be economically superior. Those who sell products with high basket values, such as furniture, machinery accessories, premium electronics, medical devices, B2B requirements, or special assortments, can improve the cost structure of checkouts through bank-to-bank payments.

Use Case 2: B2B Commerce

In B2B, bank payment is culturally and procedurally often closer to the buyer's expectations than wallet or card logic. If business customers already work by transfer but still want a digital checkout, the finAPI connection is particularly meaningful.

Here, the familiarity of bank payments is linked with the automation of an e-commerce checkout. finAPI explicitly positions its payment solutions for accounting and business processes as well.

Use Case 3: Merchants Focusing on Liquidity and Rapid Order Release

Those who release orders only after payment receipt can expedite processes with instant payments. This is relevant for merchants with limited inventories, just-in-time procurement, time-sensitive shipping, or digital services with immediate availability. When funds are received within seconds, the period between order and fulfillment is significantly shorter.

Use Case 4: Merchants with High Manual Accounting Effort

If many payments still need to be manually assigned or discrepancies reworked today, the plug-in can create significant efficiency gains. finAPI highlights that payment data is transmitted in a structured way and reduces input errors. For shops with many orders per day, this is not a side effect, but a true cost lever in administration.

Use Case 5: Merchants with European Expansion

Those who already sell in several SEPA markets or plan to do so benefit from a payment approach that is based on European banking infrastructure. finAPI is active in several European countries and supports not only SEPA payments but also other regional payment methods depending on the market. This can help build a less fragmented payment architecture in Smartstore.

Use Case 6: Checkout Optimization Without Exclusive Card Dependence

Many merchants today are heavily dependent on a few payment schemes. An additional bank-to-bank option increases the resilience of the payment stack. This is not just a technical advantage, but a strategic one: Diversifying payment methods reduces dependencies in price, acceptance, and process logic. finAPI itself emphasizes the role of A2A payments as a new foundation for e-commerce payments.

4. Where the Solution Is Particularly Strong – and Where to Stay Grounded

The plug-in is not automatically the dominant payment method for every shop. This limitation is important.

The solution is particularly strong where costs, liquidity, and process security are more important than maximum spread of a familiar consumer brand. Pay by Bank is economically attractive from a merchant's perspective, but on the customer side, acceptance also depends on how familiar target groups are with the procedure and how smoothly the respective bank connection works.

finAPI itself points out that certain payment types – especially instant payments – may only be available in limited ways depending on the bank. The general availability also varies according to country, bank, and account type.

This means specifically:

• As a complement to existing payment methods, the finAPI integration in Smartstore is very strong.
• As a sole checkout strategy, it would be too narrowly thought for many shops.

My clear recommendation would therefore be to position the plug-in in your communication not as a pure "replacement for everything," but as a highly attractive additional payment option with clear merchant advantages.

5. The Actual Value Proposition for Smartstore

The actual added value of your integration is not just that Smartstore can now also do "Open Banking." The larger point is: You are expanding Smartstore to include a payment logic that fits very well with current developments in the European payments market.

finAPI itself refers to the growing relevance of instant payments and A2A payments in commerce. For Smartstore merchants, this creates a practical benefit: less friction in the payment process, potentially better margins, faster payment receipt, and a more modern, European-compatible payment architecture.

Conclusion

The integration of finAPI in Smartstore expands the payment portfolio for merchants with a future-oriented open banking option. Bank-to-bank payments enable a direct payment flow between the customer's account and the merchant's account, thereby reducing dependencies on traditional card or wallet networks. For merchants, this can result in particular advantages in transaction costs, liquidity, and process security.

At the same time, the strength of this payment method can especially be seen in the payment mix. As an additional checkout option, it offers customers a familiar and secure way to pay directly via their online banking, while merchants benefit from a structured payment initiation and potentially faster payment receipts. Especially in B2B commerce, with high-priced shopping carts, or with liquidity-critical business models, Pay-by-Bank can be an economically attractive addition.

With the finAPI integration, Smartstore thus not only creates another payment method but also opens up access for merchants to a payment infrastructure that is gaining increasing importance in European e-commerce. Merchants can diversify their checkout strategy while also benefiting from the possibilities of modern Open Banking technologies.

Do you have any questions on this topic? Or would you like to send us your feedback? Then you can reach us via the contact form, by email at info@smartstore.com or by phone from Monday to Friday between 10 a.m. and 4 p.m. at +4923153350.