Pay with Bank Transfer (PwBt), powered by American Express has selected Nuvei to promote and sell PwBt’s Open Banking-enabled payment method. The payment method enables consumers to complete transactions from their bank accounts without having to enter card details or complete additional authentication checks. PwBt delivers a frictionless payment where funds are reconciled instantly, with attractive processing fees.
Nuvei will be promoting PwBt to both existing and prospective UK merchants. In doing so it will be supporting them with the integration of the Open Banking payment method into their ecommerce platforms. All Nuvei partners that sell to consumers in the UK can now integrate PwBt. While the technology is powered by American Express but is open to everyone with a UK bank account.
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Nuvei will be able to integrate PwBt into their online checkout
In the UK, over 7m consumers are making payments directly from their bank accounts that are powered by Open Banking. Companies in the travel and utility sectors have been early adopters, with the security benefits of PwBt making it an attractive option for high value, one off payments, such as holidays, and seamless and instant bill payments.
Nuvei customers will be able to integrate PwBt directly into their online checkout through their existing connection to Nuvei technology. Nuvei’s agile and customisable full stack payments solution enables online businesses to optimise their checkouts and back-end payments flow through one connection, streamlining relationships and giving a single view of all payments data from all customer transactions.
Philip Fayer, Nuvei Chair and CEO, commented: “We’re proud to be offering Pay with Bank transfer to our merchant partners to help them meet growing customer demand for efficient, secure payment options. Our mission is to enable our customers to get closer to their customers through payments, wherever they are and however they want to pay. Powered by American Express, but available to anyone with a UK bank account, we know Pay with Bank transfer goes above and beyond to ensure a secure, yet frictionless, service that is available to everyone, and we’re delighted to be working together to bring these benefits to a new customer base.”
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