What is Payment Method Switch?
Payment Method Switch is live now on Banxa Hosted Checkout, for buy orders. It separates the order from the payment. A buyer can change how they pay without losing what they’re buying.
It works in two ways:
Change payment method after a decline
If a payment doesn’t go through, the buyer sees a “Change payment method” option on the same screen. They decide whether to switch and which method to use, card to Google Pay for example, and carry on.
There’s no new order and nothing to re-enter.
80% of failed payments are recovered this way.
Change payment method before paying
Buyers don’t need a decline to change their mind. “Change payment method” is available throughout checkout, so a buyer who’d rather pay another way can switch before making any payment.
67% of buyers who switch payment method go on to complete their order.
Same order, refreshed price
Every payment method carries its own fees. When a buyer switches, Hosted Checkout refreshes the quote and fees for the new method and shows the updated total before they confirm. The buyer pays the price for the method they actually use, and sees it first.
The order itself doesn’t change. The order reference stays the same from start to finish, so partners keep a single record of the order. Verification carries over too. A buyer who has already verified isn’t asked to do it again for the new method unless that method requires something extra.
What Payment Method Switch offers
| What it does | What that means |
| Switch after a decline | The order carries on, and the buyer doesn’t start again |
| Switch before paying | Buyers can change their mind without abandoning the order |
| The buyer chooses | The buyer decides whether to switch and which method to use |
| Quote refreshed for the new method | The buyer sees the real total before confirming |
| Same order reference throughout | One order, one record for the partner |
| Switch details in the webhook | Partners can tell switched orders from first-time completions |
For partners: nothing to build
Payment Method Switch is on for every Banxa partner using Hosted Checkout. There’s no new integration.
One thing does change. Because a buyer can switch, the payment method and the total on an order can differ from the values when it was created. The order webhook now carries three fields to make that clear:
payment_method is the method the order finished on.
original_payment_method is the method it was created with. It matches payment_method if the buyer never switched.
is_retry is true when a switch happened.
Reconcile on the final webhook, not on the order you created. These fields came out of conversations with partners while we built the feature, so switched orders can be reported separately from first-time completions. The details are in the
webhooks documentation.
The full Banxa stack underneath
A switch only works if the new payment method is already connected, live and approved for that buyer, asset and country, behind the same checkout. That isn’t something a checkout can add overnight. It’s 12 years of payment rails, across 400+ integrations.
Payment Method Switch covers buy orders on Banxa Hosted Checkout. It runs on the same licensed infrastructure as every other Banxa transaction.
Keen to find out more?
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