Alternative Payment Method - bit

In this article:

• Overview 
• Activate an alternative payment method
• Usage 
• FAQ

Overview

Alternative payment method- bit is the number 1 APM currently in Israel, owned and managed by Bank Hapoalim, bit acts as a tokenization platform for credit cards and credit card payments.

Basically, bit allows your payers to pay with their credit card via their phones, either by scanning a QR code with the phone's camera or by getting redirected to the bit app with a tap of the screen, without the credit card being present.

Activate an alternative payment method

In order to be able to select bit as a payment method for your payers, you will need to go through a simple activation process:

1. Go to the “APM’s” category in the app marketplace in the PayMe platform.
2. Press “Setup”, a new pop-up window should pop up bit’s information and details.
3. After reviewing the APM & agreeing with its terms & conditions, press the “Install” button.
4. That's it! bit is now active & ready to use.

Usage

As a merchant, using bit is as easy as it gets after activation bit gets automatically added to all your payment methods drop-down menus and act exactly the same as the rest of them!
Just create a new sale, select bit as the payment method & voila! The buyer can pay with his bit account.

Desktop demo:

Mobile demo:

FAQ

Does bit support all types of card brands?

Only for brands that are currently supported for processing in your account

bit QR, is it permanent?

The bit QR is valid for 10 minutes only. If the payer leaves the payment page, the QR code will be automatically canceled within 10 minutes and a new code will be generated. If the payer did not scan the QR, the transaction will be considered under the status "failed". 

How the money is transferred to the bank account

According to the credit terms in your PayMe account. Similar to regular credit card transactions.

Does bit support other currencies other than Israeli Shekels? 

No! bit can process ILS only.

Is it possible to create subscriptions with bit?

No. bit support regular transactions with 1 installment only

Is it possible to connect bit for credit card processing on an e-commerce site?

Yes. This is possible in one of three ways:

- API Integration. More info is available in our API article by clicking here

- Registration to Woocommerce application. More info is available in our Woocommerce article by clicking here

- Registration to Shopify application. More info is available in our Shopify article by clicking here

Is it possible to process unlimited transactions by using bit as a payment method?

No. There are certain limitations:

Single transaction - Up to 5000 ILS 

Total monthly transactions - Up to 20000 ILS.