PCI Pal launches Pay By Bank Open Banking solution for contact centres

Thursday 22 September 2022 15:01 CET | News

UK-based PCI Pal has launched a new Open Banking solution for contact centres named Pay By Bank, which will allow merchants to minimise the cost of transactions.


PCI Pal is a SaaS provider of secure payment solutions for business communications, and its Pay By Bank Open Banking system is the first in a series of new agent-assisted, digital payment products. These products were designed to help merchants minimise the cost of transactions and provide instant refunds while reducing chargeback costs and fraud risks. 

The first version of the product allows consumers to pay from any bank in the UK, while further global regions will be launched later. Moreover, the system will allow consumers to instantly authorise payments via their mobile banking app or online banking portal. 

According to analysts from IDC, almost three-quarters of digital consumer payments globally will be conducted via platforms owned by non-financial institutions by 2030. The Pay By Bank system enables secure omnichannel, bank-to-bank payments across all contact centre channels, including voice (phone), chat, and social. The system’s bank-grade security is provided by TrueLayer, and it integrates with PCI Pal’s existing agent-assisted contact centre solutions. 

The integration with TrueLayer also facilitates payments from any bank, while a third-party application would only support a small number of named institutions.


UK-based PCI Pal has launched a new open banking solution for contact centres named Pay By Bank, which will allow merchants to minimise the cost of transactions.


How does Pay By Bank work for customers? 

PCI Pal officials stated in the company press release that clients can simply choose how they wish to pay by clicking a link shared by the merchant via live chat, push notification, SMS, or email. 

The system doesn’t require them to enter their card details or trust a website to store their credentials. Instead, they can select their bank from a list and securely approve the purchase with an authentication method such as a fingerprint scanner or face recognition system.


PCI Pal joined Odigo to provide secure payments 

PCI Pal joined forces with CCaaS provider Odigo in April 2022 in order to offer its payments security solution on the latter’s marketplace. The partnership came right after the launch of the Odigo Connect Marketplace, and it allowed clients to access PCI Pal’s payment security solutions for voice, chat, social, email, and contact centre interactions. 

Odigo’s company officials said that PCI Pal has developed a reputation for supporting global organisations with their omnichannel payment security needs. They were therefore interested in partnering with PCI Pal and offer its payment security solutions as part of the new Odigo Connect Marketplace.

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Keywords: Open Banking, Open Banking payments, payments , biometric authentication
Categories: Banking & Fintech
Companies: PCI Pal
Countries: United Kingdom
This article is part of category

Banking & Fintech


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