Open Banking Account to Account Payments
Simplifying payments, strengthening connections Say goodbye to card payments, the cheaper, faster and more secure alternative is here: Moneyhub’s Account-to-Account Open Banking Payment API.
A2A Payments
A2A payments move money between accounts through the faster payments network. From single immediate payments to variable payments, they are inexpensive and complete in seconds.
Moneyhub is an FCA Authorised Payment Initiation Service Provider (PISP) whose technology will connect you to the Open Banking ecosystem so you can build payment experiences.
Family and friends payments
Transfer money between accounts without having to type in a sort code or account number
Ecommerce
Reduce friction, one-click secure payment
SME and tradespeople payments
Make seamless large payments with a QR code, no card fees
Account deposits
Transfer money into a new bank account quickly and easily
POS retail
Scan a QR code and pay by phone, no card needed
Charity donations
Reduce processing fees, more of the donation goes to a good cause
Faster, low cost and more secure
No need to exchange or retain sensitive card details
Reduce the risk of fraudulent chargebacks due to better authentication
Instant customer refunds, no 2-3 day wait
Save 85% compared to card-based payments
Variable recurring payments
As a provider, safely connect your bank account to a customer’s in order to make a series of payments within agreed parameters.
The timing or amount of each payment need not be fixed which offers more control and transparency than existing regular payment alternatives.
Open Banking Payments user journeys
Select a use case:
How Open Banking Payments work for ecommerce payments
-
Your customer heads to the checkout.
-
At the checkout, your customer selects the option to pay by instant bank transfer.
-
The customer chooses their preferred bank.
-
The customer is redirected to their own banking app where they select the account to pay from and can confirm the payment amount.
-
Customer authorises the payment through their banking app with embedded Secure Customer Authentication (SCA).
-
The customer is taken back to the checkout and payment is confirmed.
How Open Banking pay by link works
-
The customer or contact owes money to the payee.
-
Customer scans QR code on their phone or clicks on the link in a message.
-
The customer is redirected to their own banking app where they select the account to pay from.
-
Customer authorises the payment through their banking app with embedded Secure Customer Authentication (SCA).
-