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 chargebacks 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 TrustistEcommerce 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.
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! TrustistEcommerce 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!