Making a payment should be easy.
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.
So what do customers want from their payment solution? Research tells us customers ultimately want 3 things: Security, simplicity, and speed.
- Security: The confidence to know that your payment details and credentials won’t be compromised, and there won’t be any fraudulent transactions in the future.
- Simplicity: The convenience of paying correctly using biometrics to authorise a payment from an existing account, without inputting any payment details.
- Speed: All processed quickly. With money sent to the merchant in real-time, and the customer notified on the success of the payment.
At Nuapay we believe payments should be simpler, that is why we have fully embraced the digital age. With innovation and convenience at the forefront, Nuapay is proud to introduce a payment solution like no other, Open Banking.
Right from the outset, Open banking solutions have been developed with security in mind. Credentials and account details are never shared with a merchant or payment processor, and authorisation of a payment is typically done with a fingerprint or scan of the face, to deliver Strong Customer Authentication (SCA) compliance. And not just for e-com…
We have partnered with various brands to enable SCA compliant payment options over the phone, accepting push payments made from customers’ mobile device, transferred securely in real-time. And also for physical point of sale devices. In fact, the Nuapay solution is so effortless we inspired fast and easy cashless donations to charity from a large number of collection points in a fun campaign with Thyngs. Tapping their phones on the giant Pudsey as they go, passers-by were able to seamlessly make a donation to Children in Need.
So how long should it take customer’s to pay? Some people say if it takes longer than 5 seconds, you will lose your user. For some banks today, they aren’t too far off that with customers being able to log-in and authorise a payment in as little as 8 seconds with 2 clicks. Now that is pretty speedy. And all payments are made directly from the customer’s own bank account – so no need to faff around topping up prepaid cards or loading wallets.
Today in your own checkout you have the power to offer your customers the convenience of paying on their mobile with the click of a button – or maybe more aptly the wink of an eye. That is the power of open banking payments – designed to let you do more.