Open Banking means you can collect payments quicker, at lower cost, directly reconciled into your account.

Is the future digital? Exploring Open Banking & the rise in mobile applications

Wed, 10/06/2021 - 19:07
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Open Banking - monetize your digital transformation

Open Banking enables organisations to get paid in real time, whilst lowering costs, reducing fraud risks, and improving reconciliation. All while offering customers a frictionless payment process. 

Today millions of organisations and consumers are using Open Banking services to manage their finances. As of September 2021, there were 2.5 million Open Banking payments made every month*. For organisations, it offers benefits around supporting their need for digital journey improvement by helping maximise customer engagement through more ways to pay and improving cash flow into the organization by receiving payments in near real-time.

Pay360 is pleased to be at the forefront of this innovation, offering our customers ‘smart’ digital payment requests. These work by sending a link to a customer by SMS or email that enables them to make instant and secure payments with their mobile banking app, or via a website. The process ensures that payment can be taken securely if customers are on inbound or outbound calls with customer service agents, who can provide support with the transaction if required. 

*Ordo 2021

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