How does BOPP process payments? / How do payments with BOPP work?
Most everyday purchases typically use payment cards issued on the VISA / Mastercard networks. Once a user uses their card this gives authority for the Merchant/Business to ‘pull’ money from the payers bank account via a series of financial intermediaries.
With BOPP things are much simpler. We do not use cards at all, or the VISA / Mastercard networks. We simply (and securely) transfer the payment details of the payment request from the person wanting payment to the person making payment. The payer then authorises directly within their own bank app, meaning that no bank login information is ever shared.
This is digital payments done the logical way.
In order to ensure integrity for all users of BOPP, we make sure that the only bank details that can be shared with a Payer have come directly from a bank-verified account and not simply typed in by the Payee.
When making a payment using BOPP you will simply have to identify the bank you wish to make the payment from. BOPP will direct you to your banking app where you will need to consent to this payment, BOPP will then execute the payment. BOPP cannot execute payments on your behalf without your express consent in your banking app.