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We are delighted to relaunch our Open Banking solution offering EUR (GBP coming soon) for both ours and merchants own IBANs!

Open Banking allows consumers to securely share their financial data (with consent) with third-party providers via standardised APIs. This makes it possible to access new, personalised financial services beyond traditional banks, creating a more seamless and simplified consumer checkout/deposit experience.

Open Banking can be used for a number of cases, just some of these cases include:

• Instant payments and bank transfers for merchants
• Subscription and bill management
• Small business payments
• Lending and credit scoring

There are a range of benefits for the end consumer with Open Banking that include:

• Faster and more secure payments
• Increased competition and transparency
• More personalised services
• Greater control over financial data

There are also a number of benefits for the merchant that include:

• New revenue streams
• Improved customer insights
• More efficient customer onboarding
• Reduced fraud and better compliance with lack of chargebacks

Our new Open Banking solution is integrated to a wide range of cashiers including the likes of Bridgerpay, Praxis and more.

Get in touch to find out about our new and improved Open Banking solution and the wide range of industries we can now support.