PCI Pal launches open banking payments for contact centers: the first in a series of new payment products
21 Septiembre 2022 - 8:00AM
Business Wire
The new digitally-native payment product, powered by open
banking technology, offers consumers the choice to instantly Pay By
Bank, authorizing payments via their mobile banking app or online
banking portal.
PCI Pal® (LON: PCIP), the global SaaS provider of secure payment
solutions for business communications, has announced the launch of
its Pay By Bank open banking solution for contact centers. It is
the first in a series of new agent-assisted, digital payment
products that enable merchants to minimize the cost of
transactions, provide instant refunds – all while reducing fraud
risk and chargeback costs. The first iteration of the service gives
consumers the option to pay from any bank in the UK, with further
global regions, including the US, to be launched shortly.
With analysts IDC predicting that almost three quarters of
digital consumer payments globally will be conducted via platforms
owned by non-financial institutions by 2030*, PCI Pal’s new Pay by
Bank makes highly secure omnichannel, bank to bank payments
possible across all contact center channels, including voice
(phone), chat, and social. It eliminates card and interchange fees,
while fraud risk and chargebacks will be reduced as consumers
directly authenticate with their bank, creating further cost
savings for merchants while improving the payment experience for
consumers.
Pay by Bank from PCI Pal uses bank-grade security from our
technology partner TrueLayer and is seamlessly integrated to PCI
Pal’s existing agent-assisted contact center solutions. Agents
benefit from being able to follow the customer payment journey in
real-time, without being exposed to sensitive data yet aiding where
needed, to maintain a great customer and agent experience. As a
result, PCI Pal’s integrated partners will have immediate and
straightforward access to these new capabilities, allowing them to
benefit from an improved value proposition to their own
customers.
A key differentiator compared to other solutions available today
is our technology integration with Truelayer, enabling payments
from any bank rather than a minimal amount of named institutions
via a third party application. Pay by Bank from PCI Pal allows
merchants to achieve the true benefits of open banking technology
within their contact center.
Mufti Monim, Chief Technology Officer for PCI Pal said: “This
Pay by Bank capability, powered by open banking technology, is the
first of a new series of product innovations from PCI Pal which
will provide enhanced digital payment journeys for merchants. This
innovation makes payments – and instant refunds – quicker, easier,
and highly secure. The omnichannel experience means customers
simply choose how they wish to pay by clicking a link shared by the
merchant via live chat, push notification, SMS, or email. They
don't have to key in their card details or trust a website to store
them; they instead select their bank from the list and securely
approve the purchase with a fingerprint or face ID or other
authentication method provided by their bank.
“For merchants this Pay by Bank capability can increase revenue
by improving conversion rates and provide cost savings, as payment
service provider fees are replaced by less costly transaction fees.
Additionally, payments are typically credited instantly via Faster
Payments.
“PCI Pal has solved the PCI DSS compliance problem: now we’re
investing in and further developing our products to create new
revenue generation and cost-benefitting solutions for contact
centers as businesses strive to commercialize further customer
interactions and enhance their payment experience.”
For more information regarding PCI Pal, visit www.pcipal.com
call +44 207 030 3770 to arrange a demonstration or follow PCI Pal
on LinkedIn: https://www.linkedin.com/company/pci-pal/.
Notes to Editors:
- Reference: IDC predicts that 74% of digital consumer payments
globally will be conducted via platforms owned by nonfinancial
institutions by 2030:
https://www.paymentscardsandmobile.com/74-of-payments-to-be-handled-by-non-traditional-financial-providers/#:~:text=According%20to%20a%20new%20study,banks%2C%20insurers%20and%20credit%20unions.
About PCI Pal
PCI Pal (LON: PCIP) is a leading provider of SaaS solutions that
empower companies to take payments securely, adhere to strict
industry governance, and remove their business from the significant
risks posed by non-compliance and data loss.
Its mission is to safeguard reputation and trust by providing
customers with secure payment solutions for any business
communications environment including voice, chat, social, email,
and contact center.
PCI Pal is integrated to, and resold by, some of the worlds'
leading business communications vendors, as well as major payment
service providers.
PCI Pal products can be used by any size organization globally,
and it is proud to work with some of the largest and most respected
brands in the world.
For more information visit www.pcipal.com or follow the team on
LinkedIn: https://www.linkedin.com/company/pci-pal/.
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version on businesswire.com: https://www.businesswire.com/news/home/20220921005089/en/
Kelsey Nass, SourceCode Communications
pcipal@sourcecodecomms.com
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