ECOMMPAY’s Open Banking solution now covers 20 countries with users able to connect to 2,000 banks, allowing them to make instant account-to-account payments. The solution offers funds aggregation; deposit confirmation; automated reconciliation; payouts and refunds via the API/merchant dashboard. The reconciliation process is also easier and faster for the merchant, with confirmation that settlements are made according to the time schedule approved with each client individually.
Open Banking makes it easier for consumers to view their finances, take out loans or pay for things online, while businesses also benefit from faster payments, more information, and understanding of their customers, and greater opportunity to innovate by adding more revenue streams via apps and other financial products while paying less for services.
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