Payments technology innovation VoPay has partnered with US-based fintech acceleration platform Hydrogen to offer end-to-end open banking payments.
The partnership empowers fintechs to access VoPay’s digital bank payment tools directly through the Hydrogen API, in addition to Hydrogen’s other financial service integrations. This access will enable fintechs to better serve the 57.5% of consumers who admit to being interested in banking with non-financial companies.
This comes at a time where research from a new Accenture report predicts financial incumbent banks will lose up to 15% of their revenue pool in retail payments to fintechs over the next three years. VoPay’s solutions will be available through the Hydrogen Platform in early 2020.
VoPay digitises online bank account payments with speed and transparency. Their API connects digital enterprises to banking systems, enabling them to facilitate direct bank account payments just like credit cards – but better.
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