Open Banking enables users to authorize third-party access to banking information for online purchases, streamlining payment process.
Open Banking allows customers to grant permission to third parties like online retailers to access their banking information, eliminating the need to input credit or debit card details for purchases. This new payment system can be used on retailer websites and apps. To make a payment, confirm you want to pay via open banking and choose your bank. You will be redirected to your bank's website or app to log in and complete the payment process.
May 26, 2024
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