India net banking (Online Banking) payments let consumers log into their own bank's internet banking to approve payments directly, a channel that supported online payments in India even before UPI. We've outlined the integration requirements for this method, which is strong with high-value transactions and more conservative customer segments.
India is a market where regulation shapes the payment experience, including RBI's requirement for additional authentication (2FA) on online payments. Net banking payments are a bank-direct-approval method that fits precisely within this regulatory framework, giving broad coverage of account holders at major banks such as HDFC, ICICI, SBI, and Axis. While UPI dominates small, high-frequency payments, net banking remains preferred for larger transactions such as airfare and tuition.
For businesses selling higher-priced products and services into India, or those looking to reach older customers and corporate clients less familiar with UPI apps, net banking serves as a real second pillar alongside UPI. Because approval happens directly through the bank account, it also pairs well with education and professional service industries where payment trust is a sensitive factor.
When a consumer selects net banking as the payment method and specifies their bank, they are redirected to that bank's login page, complete additional authentication per RBI requirements, and INR is withdrawn from the account. Hecto Financial receives these funds in the local currency, converts them, and settles to the Korean merchant in whichever currency—USD, KRW, or JPY—was selected under contract. Differences in page layout and processing time by bank can be found in the integration documentation.
A Korean corporate entity can review a structure in which a single Hecto Financial integration bundles acceptance of net banking across major banks, without the need for separate contracts with each Indian bank. The list of supported banks and industry-specific terms are finalized through consultation before contracting.
※ This section describes the general support process and does not guarantee actual integration eligibility for a specific merchant. Please confirm exact coverage and fees through consultation.
Confirm contract eligibility as a Korea-registered business
The integration approach differs depending on whether you sell online only or also operate offline stores in India
Advance confirmation is needed to check whether your category falls under Online Banking India's restricted merchant categories
Confirm compliance with India's payment and foreign exchange regulations (see official sources below)
Payment funds approved via net banking are received by Hecto Financial in INR. After conversion, the Korean merchant's account is credited in whichever one of USD, KRW, or JPY was set under contract, with the settlement cycle and fees governed by contract terms. Refunds default to returning funds to the originating bank account, and since processing times can vary by bank, it's advisable to build a buffer into refund policy design.
The Hecto Financial team will work with you to review the right combination of payment methods for the Indian market.
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