How bank transfers are changing for the better

Sneha Padavala

28th Nov 2023
How bank transfers are changing for the better

Business Age

We’ve all been there. Typing out that never-ending string of numbers and letters, double-checking if we’ve got it right, and wondering if there’s a better way to pay. Spoiler alert: there is.

Say goodbye to tedious manual bank transfers. Things are getting a lot easier thanks to changing payer expectations and wider adoption of open banking payments.

Merchants don’t need to send their bank details in a PDF, asking customers to set them up as a payee and then complete payment. Now, it’s all automated. From a secure, branded checkout, payers then simply authorise the payment via their mobile banking app. Simple, quick and seamless.

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