PCI Pal has launched an open banking solution for contact centres – Pay By Bank.
First in a series of agent-assisted, digital payment products, Pay By Bank enables merchants to reduce the cost of transactions and provide instant refunds.
Moreover, the solution allows consumers to pay from any bank in the UK, with other global regions to become available soon.
What makes this solution unique is that it enables secure bank-to-bank payments across all contact centre channels, such as phone, chat, and social.
Pay By Bank also integrates with TrueLayer, a provider of open banking APIs, which allows payments from almost any bank via third-party application.
Mufti Monim, Chief Technology Officer, PCI Pal, said: “This Pay by Bank capability, powered by open banking technology, is the first of a new series of product innovations from PCI Pal which will provide enhanced digital payment journeys for merchants. This innovation makes payments – and instant refunds – quicker, easier, and highly secure.
“The omnichannel experience means customers simply choose how they wish to pay by clicking a link shared by the merchant via live chat, push notification, SMS, or email.