Monoova, TrueLayer to launch data-enabled payments in Australia

Thursday 12 May 2022 12:47 CET | News

B2B payments solution provider Monoova and Open Banking enabler TrueLayer have announced the launch of data-enabled payments in Australia using the Consumer Data Right.

The companies have invoked the benefits of the combination of CDR data with payments start when onboarding customers and continue through the procure-to-pay process at the time of invoicing. This setting, according to company officials, is boosted in the context of setting up recurring payments for regular periodical subscriptions or an ongoing commercial supply arrangement.

Facilitated by TrueLayer, an Accredited Data Recipient authorised by the Australian Competition and Consumer Commission, Monoova’s clients will benefit from customer-permissioned bank data obtained in accordance with the CDR Rules to empower one of the biggest use cases for Open Banking data in Australia – namely, payments.

The parties set out to collaborate on use cases for data enabling payments process innovation including faster customer onboarding, account verification, balance checks, and verified instant payouts and withdrawals for ecommerce, wealth, and gaming apps.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Open Banking, Open Finance, e-invoicing, B2B payments
Categories: Banking & Fintech
Companies: Monoova, TrueLayer
Countries: Australia
This article is part of category

Banking & Fintech




Discover all the Company news on Monoova and other articles related to Monoova in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events