What is Open Banking? – A Guide for Business

Open banking offers a fast, secure, and future-proof way to take and make payments online, allowing merchants and businesses an alternative way to accept payments, without having to rely on card networks. Adoption of this innovative financial technology solution is...

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What are the Benefits of Open Banking?

Open banking solutions offer a new way to pay and get paid quickly and securely with minimal effort. Third party financial service providers use APIs to access financial data from banks and other financial houses meaning a reduced risk to consumers and businesses....

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Nuapay data reveals strong consumer demand for Open Banking and better a payment experience

The research found 54% of UK consumers would be willing to use Open Banking as an alternative way to pay. This rises to 64% of consumers who use mobile banking and can benefit from the most convenient Open Banking payer experience. Unsurprisingly, the younger generations are leading the demand for Open Banking solutions, with 75% of consumers under 34 willing to use Open Banking to make a payment.

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How Your Business Could Benefit from Using a PISP

Employing a PISP for your business is a simple and secure way to take payments from customers via bank transfer, either as an alternative to card payments, or a way of automating and streamlining existing bank transfers.  Equally, if you are an ISV, a PISP can help you to automate outbound payments for your clients, such as supplier payments. 

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A Closer Look at Safeguarding in Regulated Institutions

At Nuapay, all our GBP funds are safeguarded in real-time in accounts at a UK credit institution.   As soon as any funds are received into our accounts, we make an equivalent transaction moving the money into designated safeguarding accounts that are held with our clearing bank.  Given the nature of our accounts, this is done automatically as soon as the money is received. 

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Throw the card in the bin – mobile payments with open banking

Nowadays everything seems possible with technology.  Innovation has opened up a digital age and things like carrying around a wallet full of cards are becoming a thing of the past. As tangible wallets inch closer to ‘old fashion’, mobile payment solutions are becoming more common. 

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Nuapay and Felloh! team up to slash the cost of processing charitable donations by 50%

17.06.20 – Today, open banking pioneer Nuapay, a Sentential company, announces its partnership with Felloh!, UK-based startup with a mission to transfer £1bn in reduced payment processing costs to donations for charities and social enterprises. The partnership enables social enterprise Felloh! to premier its open banking payments button. The new solution will enable consumers to effortlessly donate to charities, with over 50% of beta testers finding it easier to use than PayPal.

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SCA – can I make the problem go away?

Strong Customer Authentication (or SCA as it is known) was introduced as part of the European PSD2 regulations.  The card schemes are implementing SCA with upgrades to their 3DS payment solutions.  The problem with this is that it requires additional implementation effort for most merchants and, as with everything to do with the card schemes, additional costs.

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Nuapay Appointed to deliver Payment Initiation Services to UK Public Sector

Leading provider of account to account payment solutions, Nuapay, today announces that it has been selected to join the UK Government Crown Commercial Service’s Payment Acceptance Framework. This will enable public sector organisations to benefit from accepting open banking payments through Payment Initiation Services for the first time.

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