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Open Banking

Introducing Instant Bank Transfer, the fast, secure & lower cost way to accept payments from your customers.
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The new standard in payments 

Open Banking is the new way for consumers to pay. Customers pay by bank transfer, sending funds directly from their bank account to the merchant.  It is fast and secure, all with no cards and no data entry.

Using Nuapay’s Open Banking solution, merchants get all the features expected of a modern payment method. Refunds, recurring payments, instalment plans, and full reconciliations, are already part of our solution.

Fast

Fast and simple customer checkout with no card details to enter

Merchant receives money (and sends refunds) in real-time

Instalment plans & recurring payments with one click

Real-time webhooks to confirm payment status

Secure

Fully SCA compliant payment method, lowering your fraud rates

Consumers connect securely to their internet or mobile banking to make a payment

No credentials or account details disclosed to merchant, so no PCI DSS requirements.

Cost Effective

One, simple, low-cost fee

No charges on failed or declined transactions

No chargebacks

Full reconciliation files

Simple API integration

 

How does Open Banking work?

 

Using Open Banking, customers initiate a payment to a merchant or corporate using their mobile banking App or online banking webportal, in exactly the same way that they would pay with bank transfer.  Funds are then transferred to the merchant immediately using the real-time banking rails.

Learn more

Why Nuapay?

Nuapay is a pioneer and industry leader in Open Banking payments.  Our API based payment method, provides a complete payment solution that addresses all of your needs, whether you be a PSP, merchant, or a payer.  Our solution provides:

Complete payment functionality

Unlike other providers, we power the full set of payments, including refunds or outbound payments, recurring payments and instalment plans

Comprehensive bank coverage

Nuapay’s PISP processor is a single connection to all major banks in the UK and a growing number of connections across Europe, supporting payments from your customers no matter where they bank

Immediately accessible funds

Funds are immediately available in your bank account, or can be batched to your account at a frequency that suits you. Either way, we provide complete reconciliations, ensuring no payments are missed

Modern API integration

Integrate into our Open Banking payment method through our industry leading APIs, including webhooks for easy, real-time integration into your customer journey

24/7 live operations

We are a trusted payment provider to major banks and PSPs across Europe, ensuring we have the scale and capability to power your payments 24/7

Support for PSPs

Our solution is available to be white-labelled and/or distributed by PSPs, using our PISP licence or yours. We provide hierarchical account structures with virtual accounts to support PSPs distributing at scale or using “Collecting on behalf of” payment models

Where to use Open Banking

Financial Services

  • Receive funds in real-time, so you can credit funds immediately to your customer’s account, thereby delivering a better customer experience 
  • Reduce any reconciliation costs versus payments by bank transfer
  • Benefit from cheaper pay-in costs than debit cards

Insurance

  • Improve conversion rates by enabling customers to pay seamlessly via mobile
  • Receive funds in real-time, initiate a policy with confidence and reduce your risk due to chargebacks
  • Reduce any reconciliation costs versus payments by bank transfer
  • Benefit from cheaper pay-in costs than cards

Gaming

  • Seamless mobile payments for gamers on the run/mobile
  • Instant payment in, enabling faster credits to account
  • Payer validation checks using open banking transactions
  • Our unique pay-out solutions, to send funds automatically in real-time
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Utilities

  • Instant one-time payments
  • Recurring solutions using Nuapay Open banking based Direct Debits
  • Options for payments online, or via phone or post
  • Collections and reconciliation of all funds

Retail

  • Seamless checkout
  • Payments are in real-time, providing you immediate access to funds
  • Refunds can be credited back to customers in real-time, improving the customer experience
  • There are no PCI DSS requirements to worry about, reducing your security risks
  • Benefit from lower costs compared to card and wallet payments

Travel

  • Checkout without data entry,  reduce checkout abandonment (mobile checkout)
  • Real-time payments, providing immediate access to funds and improving cash flow
  • Funds confirmed in your account, reduce any risk from chargebacks and ticket with confidence 
  • Enable direct debit for future instalment payments, reduce the cost of processing
  • No PCI DSS requirements to worry about, reducing security risks

Charities

  • Accept non-cash payments without expensive hardware
  • Let customers donate using their mobile, without needing to enter any card or account data
  • Provide a cheaper mechanism to accept donations (dependent on transaction value)
  • Donors able to set up a subsequent Direct Debit without needing to enter any additional account details

Other

Coffee shops
Events
Fuel
Rental agencies
Restaurants
Telecommunications
Nuapay is licenced by the FCA as an Authorised Payment Institution, including permission to operate as a Payment Initiation Service Provider (PISP), enabling us to power this full set of payment functionality
Additional Resources

Open Banking World Series Report

See the benefits of Open Banking solutions and why merchants are starting to adopt these payment methods

1st Edition
2nd Edition

Future of Open Banking with Worldpay

Find out more about how Open Banking is changing payments from one of the leaders in the payments industry, Worldpay
Watch Video

Integration
guides:
API docs

 See how easy it is to connect to our APIs to start accepting payments direct from your customers’ bank accounts today 

view api docs
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