The Wonderful team writes about Open Banking payments technology: from cost savings, security and settlement improvements, to third party integrations, fintech regulation and mobile apps.
Here at Wonderful, we were very pleased to see a joint statement issued by CMA, FCA, HM Treasury and PSR last Friday 25th March. Like us, it lauds open banking as a “secure and cost-effective alternative to using card networks.”
Whilst Open Banking offers so much potential for innovation through the sharing of bank account data, the greatest advantage of this new scheme right now could be its ability to revolutionise online payments.
Open Banking technology promises to change how we pay for things and how we manage our money, but what exactly are Open Banking payments?
Today we saw a great indicator of just how important and promising Open Banking is: HMRC has awarded a huge £3 million contract to Ecospend.
Feeling confused about what open banking is? Let us explain it in layman's terms so you can be clued up, impress your friends, and more importantly, make better financial decisions.
Donations received in any form are great but considering that charities are managing a number of programs simultaneously and in real time, being able to receive donations to your charity via instant bank payments and have instant access to your funds can ensure there is no delay in receiving funds.
