What is ?????? ???? ????????? And what are the benefits? Let me connect the dots for you: "Pay by Bank" is a fast and easy payment method enabled by open banking, where customers can make online purchases directly from their bank account and easily authenticate the payment through their bank's mobile app or online banking platform. In the picture below ?? you can find an overview of reasons why Open Banking "Pay by Bank" is a solution in Payments for businesses as well as consumers. What do you think is the biggest benefit? And do you think “Pay by Bank” is going to the next big thing in Payments? I highly recommend downloading and reading the complete #fintechreport by Yapily which I used as the source for this overview for more interesting info on this topic:?https://lnkd.in/gKb8B4ad Find this helpful? [ ???????????? ] Anything to add about this subject? [ ?????????????? ???? ?????????????? ] Nice story, Marcel. Next! [ ???????? ]?
Love this graphic but one key call out. "Open Banking" is not the transfer of monetary value. Open Banking is just the means of data exchange and authentication/verification. Behind the scenes (think of it is step 2) is a payment rail and it is NOT always instant. Example, in the USA it still rides ACH which is not instant. People get this confused, so just adding this little clarification. Great share as always.
I suspect this list is based on the UK’s version of OpenBanking. When looking at EU implementations of PSD2 OpenBanking, 'your mileage may vary'. While some of the listed advantages seem somewhat overstated, I believe a significant benefit of OpenBanking is missing: *transaction amounts* can be considerably higher compared to traditional online payment schemes.
Pay be bank has been been around for 10+ years. Open banking has made its adoption easier and for high value transactions it has achieved reasonable adoption. In sectors like Tax the benefits have been enormous to all parties involved. There are also significant benefits to merchants with high ticket products as card fees are reduced siginificantly. The savings provide an incentive for merchants to encourage customers to transfer to it as a preferred method of payment. Its challenge is tradional transactions. It is difficult to gain traction with consumers for traditional and average sized transactions. Whilst the merchant still benefits the risk of losing the customer at the checkout is too high.
Great insights on "Pay by Bank"! It’s amazing how open banking can make payments smoother and safer for both businesses and consumers. Something to watch in the fintech space!
Very informative
Productivity ?? ??
Connecting the dots in FinTech...
1 个月?? ???????? ????: Adyen chooses Yapily to provide data services for merchants across Europe: https://www.dhirubhai.net/posts/marcelvanoost_%F0%9D%99%85%F0%9D%99%90%F0%9D%99%8E%F0%9D%99%8F-%F0%9D%99%84%F0%9D%99%89-adyen-chooses-yapily-to-activity-7292175737392975872-43iA?utm_source=share&utm_medium=member_desktop?