According to the press release, BOPP aims to prevent card fraud, simplify digital payments, and reduce transaction fees. The solution eliminates the need for cards and uses Open Banking to facilitate payments directly from one bank account to another.
According to Agitate, a payment request can be sent in the form of a payment link via SMS, WhatsApp, email, or QR code. The payment request link takes the user to the BOPP site, connects to the recipient’s online banking app, and provides all the payee and transaction details. To perform the transaction, the payer needs to authorise and confirm the payment with their bank.
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