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Open Banking
Open Banking isn't just a buzzword: It's the future of payments
With hundreds of millions of transactions running over Open Banking networks across Europe already, this exciting vision for financial innovation is creating an opportunity for solution providers and merchants looking to offer best-in-class payment options for their customers.
An effortless and secure way to pay instantly
Open Banking growth is soaring. Sometimes referred to as an ‘Account-to-Account (A2A) payment’ or ‘Instant Pay by Bank’, Open Banking is a seamless way for customers to pay instantly. Funds are sent in real-time, directly from a customer’s bank account to the merchant.
With Nuapay, payments can be made in as little as three clicks, under 10 seconds, eliminating the hassle of long card entry or account creation.
Benefits:
• A speedy checkout: No card details need to be entered, so there’s less
chance of mistakes, and every chance of a frictionless experience.
• Less risk, more gain: SCA-compliance results in lower fraud risk.
• More cost-effective than cards: Cheaper to process than card payments, and there are no chargebacks or fees.
• Faster funds: Rapid settlement so merchants receive funds in real-time.
• Simple refunds when you need them: Customers are delighted with refunds processed and funds returned in real-time when using Nuapay accounts.