Shieldpay’s payments network aims to protect buyers and sellers in any transaction by verifying the identity of all parties; funds are only released when both parties agree. The company enables users to create an instant digital escrow facility and aims to eliminate fraud in peer-to-peer payments.
Pay by Bank app is a new way to pay and it will be a deposit method available to Shieldpay customers, along with credit card, debit card and bank transfer. The app allows the customer to pay from their existing mobile banking app – an immediate payment that settles instantly, and has the added benefit for customers of being able to see their real-time balance whilst doing so.
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