POLi

What is POLi and what do they do?

POLi is an online payment service provider based in Australia and New Zealand, specializing in enabling consumers to make real-time bank transfers for online purchases. It offers a streamlined payment solution that allows users to complete transactions directly from their bank accounts without needing a credit card.

POLi's core service functions as an intermediary between online merchants and consumers' banking institutions. When a customer chooses POLi as their payment method, they are redirected to their bank's website, where the transaction is initiated securely. Once the payment is approved, POLi notifies the merchant instantly, allowing for quick order confirmations and fulfillment.

The main offerings of POLi include:

• Real-time bank transfer processing: Enabling instant transactions from customers’ bank accounts.
• User experience: A simplified checkout process that does not require credit card details, reducing barriers to completing a purchase.
• Integration options: Seamless integration with various eCommerce platforms for merchants.

Who is it for?

POLi primarily serves the Australian and New Zealand markets, catering to a range of industries. Its services are popular among businesses in sectors such as eCommerce, online gaming, utilities, and telecommunications. Merchants can include online retailers, service providers, and digital content platforms that prefer direct bank transfers as a payment method.

Why do businesses choose POLi?

Businesses opt for POLi for several verified reasons, primarily tied to its ability to enhance customer experience and streamline transactions. The following strengths and benefits are notable:

• Increased conversion rates: By offering a familiar and straightforward payment option, POLi reduces cart abandonment and encourages completion of transactions.
• Cost-effective: POLi generally has lower transaction fees compared to credit card processing, making it an appealing option for businesses seeking to minimize payment processing costs.
• Security and compliance: POLi adheres to strict security protocols that protect consumer information and ensure secure transactions, making it a trustworthy payment alternative.
• Instant payments: Unlike traditional bank transfers that may take days to settle, POLi transactions are processed in real-time, allowing businesses to confirm sales immediately and improve cash flow.

Businesses using Corefy can simply obtain a MID from POLi and connect it to Corefy’s dashboard in a few clicks, without dealing with any integration work.

Is POLi trustworthy?

POLi places a strong emphasis on security and compliance within the payment transfer process. It operates under Australian regulatory frameworks and is compliant with the Payment Card Industry Data Security Standard (PCI DSS). POLi does not store users' banking credentials, which mitigates risks associated with data breaches or unauthorized access.

Additionally, POLi employs secure encryption techniques to protect financial transactions and maintain the integrity of the payment process. By prioritizing user security and conforming to regional regulatory standards, POLi establishes itself as a reliable payment service provider within the fintech landscape.