CMS signs up with NatWest for charity donations collection

Tuesday 14 February 2023 14:40 CET | News

International law firm CMS has announced its partnership with NatWest to use its Payit service in collecting charity donations in an efficient way.

Following this partnership, CMS will be able to collect charity donations from employees for their charity partners while using the Reusable Link technology provided by Payit. Being an Open Banking payments solution, Payit will take part in CMS’s aim to develop its social impact programme. 

Furthermore, the Reusable Links feature offers clients the possibility to collect payments and transactions from multiple accounts, using one seamless link without the need for card or bank account details from the donor. With the use of this feature, CMS will be able to go through the collecting process with reduced costs, friction, and administrative steps that might appear when donors use card payments. 

Payit’s solution also works with QR codes, being efficient for a variety of different payment preferences and scenarios. The link used by the payers can be surfaced in multiple industries and environments in order to collect the sum of money, providing both parties with a simpler and faster transfer operation. 

CMS has the possibility to apply a reusable link for each charity it supports while retaining control of referencing for each of them. 

International law firm CMS has announced its partnership with NatWest to use its Payit service in collecting charity donations in an efficient way.

Payit’s partnerships and launches in the Open Banking industry

NatWest’s Open Banking payment service Payit announced its partnership with Teneo in December of 2022. The collaboration aimed to accelerate the digital transformation of its payments. 

Teneo became one of the first customers to use Payit’s new functionality throughout this deal, allowing it to incorporate its new functionality Confirmation of Payee (CoP).  As a financial advisory company that pays dividends to employees and creditors affected by insolvent businesses and organisations, Teneo provided quick payments as a solution. Payit enabled Teneo to pay the customers affected by insolvent businesses almost instantly while ensuring payments can only be made into the recipients’ bank accounts. Moreover, the partnership with Payit offered Teneo the opportunity to stop using manual verification in its processes. 

Earlier in June, Payit launched its new service PayMe which was available to all NatWest and RBS businesses banking customers and clients. 

The service used Payit’s technology to help SMEs receive faster and safer payments and invoices, at a lower cost than other payment methods providers. At the same time, the company focused on the development of small and medium enterprises as well, since, according to it the company’s research, almost 60% of them experienced an increase in late payments since the beginning of the year. 

The PayMe feature was incorporated into NatWest’s Business Bank application. Its aim was to help business owners make the process of requesting money from clients or associates easier and safer. PayMe generates a link or QR code for payers with a YK account, which can be shared with customers on social media platforms, as well as embedded into an invoice. wor

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Keywords: partnership, Open Banking, Open Finance, digital banking, online banking, payments , charity
Categories: Banking & Fintech
Companies: CMS, NatWest, Payit
Countries: World
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Banking & Fintech






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