Open banking – a faster, frictionless way to pay

Open banking offers a fast, secure and cost-effective alternative to cash and card transactions for businesses and consumers.

Open banking payments are a growing opportunity.

Fast, secure and cost-effective alternatives to cash and card transactions, making and receiving payments directly from your bank accounts or authorising trusted providers to pay on your behalf.

When you check out online, you will authenticate and approve each purchase directly in your mobile banking app.

None of your data is seen by the merchant.

Those daily purchases can quickly add up.

Open banking providers will be able to round up and invest the extra pounds and pence, donate to your favourite charity, or save them for a rainy day.

Businesses can issue digital bills for approval.

Funds are settled onto your account almost instantly, and for a smaller fee than cards, referenced to make reconciliation easier.

Open banking payments. Seamless and secure, with real-time transfers and faster settlement.