Better Bank Transfer Payments For Ecommerce Businesses

Ease of Use

A customer only has to give permission once with Open Banking, then they can easily pay, without the hassle of credit/debit cards or entering their bank details.

No Charge Back Risk

With the safety of Open Banking the risk of fraud is hugely decreased meaning no Charge Backs for the merchant.

Speed

With Faster Payments enabled, Open Banking allows customers to set up regular fixed payments instantly.

Protection

Customers using Open Banking feel more secure using a familiar option for payment – their own bank account and details. 

Reduced Transaction Fees

By using Trustist Ecommerce and Open Banking you can experience reduced transaction fees allowing you to save more of your money.

What is Open Banking?

A Better Solution for Safe Bank Transfer Payments Online

Offering your customer the right payment method is more important than ever, customers and merchants (that’s you) both have alot to gain from using Open Banking. With the number of people in the UK using Open Banking predicted to reach 63.8 million in 2024, its time to get started early and start collecting bank transfer payments through Open Banking. 

Open Banking is a safer way for your customers to authorise payments directly from their bank accounts, it’s recent growth in popularity is due to the enhanced user experience, faster payment capabilities and a safer method of payment. 

A person sat at a laptop looking happy using Trustist Ecommerce

500%

increase in payment requests made through Open Banking at the end of 2021. 26.6m in 12 months

71%

of customers abandoned the checkout process when their preferred payment method isn’t available! Trustist Ecommerce makes this simple, with cards always changing but their bank accounts always staying the same.

£6.6 trillion

digital payments were made in 2021, a 40% jump in two years!