Initiating payments via Open Banking offers numerous benefits.
- Open Banking charges are much lower than a card payment.
- No PCI-DSS requirements.
- No sensitive customer data is ever transmitted or stored on your server.
For your clients
- No need to key in credit card, expiry and CVV numbers.
- Card limits are not applicable.
- Added confidence that the payment is secure as the actual authroisation takes place on the user’s online banking portal.
- Potential for card details to be stolen or hacked is eleminated.
- The merchant doesn’t hold any of your personal financial details.
Nuapay offers two implementation options to offer Open Banking payments on your merchant site:
The Checkout option lets you use the Nuapay default user interface while the Self-Hosted option offers you greater flexibility to customise your screens for your users.
Both implementation modes are described in greater details in PISP Implementation Options.