Through this collaboration, Optty aims to help US-based merchant clients and partners to leverage Link Money's Pay by Bank solution.
Purchases directly from merchant’s bank accounts
Optty's platform integrates with more than 115 of the worlds used alternative payment methods across nine payment architectures including Buy Now, Pay Later and Open Banking. This partnership will enable Optty's clients to utilise Link Money's Pay by Bank as a payment option.
According to the official press release, by integrating diverse payment options Optty’s platform, both companies aim to offer tailored checkout experiences in minutes for merchants. Moreover, the partnership intends to transform the payment landscape by offering cost-effective, customer-centric solutions such as sleek integration and business user orchestration interface.
As per a Link Money's official announcement, the partnership with Optty allows the company and their underlying merchants to get access to this A2A payment method in the US. Moreover, this will enable merchants to shift volume away from expensive rails and reduce costs while also reducing fraud and churn.
Link Money tackled this complex problem with a higher merchant margin and a vast market and proved that in the US, Pay by Bank is cheaper than debit/credit interchange. Moreover, the Open Banking leverage it by making it more secure.
Based on this challenging market, the company built a sleek software layer over the traditional US bank transfer system, ensuring regulatory compliance and payment predictability. Its checkout experience mirrors credit cards, with consumers linking their bank accounts and click ‘pay,’ despite the underlying plumbing differences. Moreover, it also guarantees certain transactions for the merchants.
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