What it is
An API-led payment technology that facilitates direct bank transfers for commerce, enabling a more secure and efficient account-to-account (A2A) payment flow.
How it works
The merchant integrates an Open Banking provider. The customer links their bank account securely at checkout. Once authorized, a direct transfer is initiated, settling the funds into the business account.
The Benefits
- Reduced Chargeback Theft: Account-to-account payments are significantly more difficult to fraudulently reverse.
- Improved Margins: Provides a lower-than-average transaction cost compared to premium rewards cards.
Best used for
US service providers, rent and utilities payments, and high-ticket B2B or B2C commerce.