Coming later in Q2 2022, we’ll offer our merchants a highly secure signup process, which will allow them to provide their clients with a much simpler Direct Debit signup experience.
So how does it work?
- Users who want to sign up for Direct Debit subscriptions will access the AISP E-Mandate Signup screen and select their bank.
- Users are then transferred and prompted to sign on to their bank. This may be done on a mobile device for quick access.
- This interaction is between the bank and the user so it is as secure as if users were logging on to their banking application as normal.
- Once signed in to the bank, users are prompted to confirm that they agree to share their account details (IBAN) with Nuapay.
- Once users give their consent, they are redirected to Nuapay with the account details being pre-filled on screen.
- The user then selects a check box to confirm the mandate and that’s it!
So Simple and Fast!
So why are we so excited? Well for merchants, the fact that users must log on to their bank and select the account to use (being authenticated via the bank’s Strong Customer Authentication (SCA) processes), you can be 100% confident that the person who has signed up to pay you by Direct Debit is the account owner. With an AISP E-Mandate signup, the possibility of fraud is negligible.
For payers, the signup process is really simple. When signing up for a standard mandate, users need to key in their account details. No one knows their IBAN off by heart so being able to simply select the account you want to use makes it really convenient.
And don’t forget, it is possible to use your mobile device when signing up, so users can simply use biometrics (Face ID or fingerprint scan, for example) to speed up the process!
We’re really excited about it - please remember to check back again soon for more details and information on how to easily integrate this solution for your business.