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Corporate > Internet Payment Gateway

Internet Payments (Corporate)

Payment service which enables partner establishments or institutions to charge customers for goods or services purchased in their websites using funds from customers' ATM or debit card accounts. Payment happens in a fast, convenient, and secure way for the customer.

Main Features

  • Available 24x7
  • Available to cardholders of more than 25 BancNet member institutions
  • Electronic reporting system
  • Electronic settlement thru BancNet member banks
  • Two-factor authentication

How it Works


To avail of the service, interested institutions have two options:

As an e-Payment Sub-partner. Through this connection, partners can connect to the Internet Payment Gateway through E-Payment Aggregators already accredited by BancNet. For a list of BancNets E-Payment Aggregators, visit page our List of E-Payment Partners.

As e-Payment Aggregator. This connection is for payment service providers who can provide the technical infrastructure and manage the payment system on behalf of other organizations, who are also their partners. Payment Aggregators may or may not engage in the selling of products or services.

Benefits to Partners 

  • Increase sales as new mode of payment is introduced
  • Reduction in cash handling related expenses
  • Increased security because less cash is handled by personnel
  • Minimized erroneous data entry due to electronic reporting
  • Faster and easier posting of payments to the partner's records compared to the traditional manual posting method
  • Faster collection of payments compared to conventional payments using cash or check (payments are automatically credited to partner's account the next banking day)

Benefits to Customers

  • Alternative form of payment
  • Convenience – available 24x7 and can be used as long as there is internet access
  • Security – no need to bring cash
  • Allows them to pay for goods or services only sold online

Security Features

BancNet has ensured that its Internet Payment Gateway is fully secure. Several layers of security mechanisms have been put in place which includes:

  1. Physical Access Controls
  2. Network level Security
    1. Firewalls
    2. Intrusion Detection
  3. Confidentiality and Message Integrity
    1. Authentication at Browser/ Client side
    2. Authentication at Merchant Site
    3. Authentication at BancNet Server side
    4. Authentication at Bank side
  4. Application Controls
    1. Limited PIN retries
    2. Transaction Amount Limit set by Bank
    3. Transaction Frequency
    4. Merchant Spike Monitoring
    5. Charge-back Count
    6. Audit Trail
    7. Dynamic PIN pad
  5. PIN Encryption
  6. SSL Encryption
  7. Global Secure ID by Verisign
  8. Proprietary Digital Certificates
  9. Additional Encryption and Security Measures