“Open Banking is the driver for change for traditional bank transfers and will do in the 2020s what e-commerce did across the 2000s. It will be just another payment type in the near future,” says Donal McGuinness, CEO at Prommt. This corner of the payments industry has remained largely untouched in terms of innovation until recently, with the emergence of new solutions that help merchants navigate digital remote payments smoothly.
The coupling of Open Banking Payment Initiation with Faster Payments now offers a viable alternative for merchants to efficiently process large volumes of bank payments and enjoy the almost real-time collection of funds. Donal McGuinness, CEO of Prommt, has contributed to an article for Finance Derivative on how Fintech has reshaped the digital payment industry and the changes that are on the horizon for remote bank payments.
Find Out More October 6, 2022 Token expands connectivity, bringing Open Banking payments to IrelandPrommt continues to rapidly gain market share with customers now embracing Open Banking payments in Ireland. Branded as “Pay by Bank” and underpinned by Token’s Open Banking platform, we are thrilled to be part of Token’s announcement.
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