Visa says that account-to-account payment feature in the UK market through its new pay-by-bank offering it will let people easily manage their bills and subscriptions through their bank app while effectively providing a similar level of protection typically associated with card payments, according to Finextra.
For businesses, Visa A2A takes advantage of real-time settlement through Pay.UK’s Faster Payment System to offer greater visibility over payments and simpler cash flow management.
Firms can take advantage of the digital nature of the service to get notifications if a consumer changes or cancels payment permissions, and it also provides them with the ability to include more transaction data for reconciliation.
With an operational technology platform ready to process bills and subscriptions, Visa plans to expand Visa A2A to include ecommerce payments in the UK with a phased approach, acording to Finextra.
The firm is also working with an open model that will enable banks and other industry partners to join and extend open banking-enabled payments to businesses.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
