Pay by Bank app
Virtually eliminate third party fraud
Pay by Bank app (PbBa) is an online checkout option that lets customers pay using their chosen mobile banking app, it’s fast, simple and makes for an easier payment experience. This solution will help you:
- Reduce basket abandonment using a much easier checkout process
- Increase sales with a seamless payment experience and familiar UI
- Reduce costs resulting from fraud and chargebacks
- Receive added security from bank-certified transactions
- Become PCI DSS complaint when no payment details are exchanged
Using Pay by Bank app
Pay by Bank leverages the UK's Faster Payments service to allow consumers to pay directly from their bank account, without the need to enter payment details or a separate password every time a purchase is made. It's designed to simplify the checkout experience, giving customers more control and visibility of their finances when they make a payment.
As one of Mastercard’s leading partners, Eckoh is offering this as part of the Eckoh Experience Portal which allows merchants to take the secure payment and customer engagement solutions they need today and simply add new ones as needed.
Pay by Bank App forms part of Eckoh’s e-Wallet portfolio that includes Apple Pay, Google Pay and Paypal which extends Eckoh’s portfolio in frictionless payments.
How we helped Regtransfers
We’re not payment security experts, which is why we turned to Eckoh. Regtransfers have used competitor solutions in the past but found that these did not extend to alternative payment methods such as Apple Pay for Cardholder-Not-Present payments. This means we can get on with growing our business which is what we do best.
Understanding the benefits
- Near elimination of third-party fraud
- PSD2 compliant, out of scope for PCI DSS and no need for 3D Secure
- Reduced costs from lower fraud and chargebacks
- Reduced basket abandonments, increased sales and easier checkout
- Added security with bank-certified transactions
Today consumer preference for digital payments (mobile app or online) stands at 79%. It makes sense therefore to offer them every option for making a payment. e-Wallet Payments – such as Apple Pay, Google Pay, Paypal and Pay by Bank app – offer a new way to pay without using a card.
The simplest way to ensure compliance and security is to prevent sensitive data entering your systems in the first place. This is what CallGuard does – effectively putting a shield round the contact centre. It secures payment and the agent doesn’t see, hear, record or store any sensitive data.
Don’t deny your customers the ability to pay
We spend more than one day per week online with 78% of us doing so on our smartphones. We check them every 12 minutes and it’s estimated that we’ll will spend £25bn on goods ordered via our smartphones or tablets in 2019, a 66% rise from 2018. Be part of this with e-Wallet Payments.