Bancontact is a popular single use payment method in Belgium where customers are required to authenticate their payment. Customers pay with Bancontact by redirecting from your website, authorizing the payment, then returning to your website where you get immediate notification on whether the payment succeeded or failed.
You can use Bancontact to save your customer’s IBAN bank details into a SEPA Direct Debit PaymentMethod. You can then use the SEPA Direct Debit PaymentMethod to accept payments or set up a subscription. This reduces friction for your customer as they don’t have to enter their IBAN again. You also receive their verified name and validated IBAN.
Accepting Bancontact payments consists of creating a PaymentIntent object to track a payment, collecting payment method details and mandate acknowledgement, and submitting the payment to Stripe for processing. Stripe uses the PaymentIntent to track and handle all the states of the payment until the payment completes. Use the ID of the SEPA Direct Debit PaymentMethod collected from your initial Bancontact PaymentIntent to create future payments.