Open Banking
We are members of the Open Banking network and actively embrace opportunities that improve payment processes for our customers.
We have already created a hybrid Open Banking solution for Direct Debit called SmarterPay Secure Signup (using AIS). We will soon be able to offer alternatives to making direct payments via Payment Initiation Services (PIS). This will offer a faster and alternative solution for Direct Credits and Faster Payments.
> SMARTERPAY SECURE SIGNUP (USING AIS)
> PAYMENT INITIATION SERVICES (PIS)
SmarterPay Secure Signup (using AIS) is next-level fraud prevention. Using open banking account information services (AIS) to verify bank account details and ownership, as part of the process of setting up a Direct Debit online the customer is taken to their online bank account to log in and verify their identity. Sign up is seamless, automatically assigning the account number and sort code to the Direct Debit instruction.
This means that only the bank account owner can set up a Direct Debit; on top of that, using details direct from the customer’s bank account removes the chance of errors, such as transposing a digit during manual input.
Payment Initiation Services (PIS)
Make account-to-account payments quickly and easily to customers, suppliers, and staff. Keep an eye on this space to the latest news and updates on the upcoming service.
What is Open Banking?
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SmarterPay Limited
Utility House
32-36 Prospect Street
Kingston Upon Hull
East Riding of Yorkshire
HU2 8PX
