Latest news with #A2A
Yahoo
2 days ago
- Business
- Yahoo
Visa launches pay by bank solution in UK
Visa has introduced its new 'pay by bank' solution, Visa A2A, in the UK, designed to make bank transfer payments 'safer and smarter'. Visa A2A aims to provide a more secure method for managing bill and subscription payments through consumers' banking applications. It introduces Visa's consumer protection guidelines for bank transfer transactions, ensuring users can reclaim funds in the event of transaction errors. The service facilitates businesses with 'near real-time' transaction settlements and providing enhanced data for payment reconciliation. Additionally, businesses will receive notifications regarding changes or cancellations in payment authorisations. The open model of Visa A2A seeks to encourage collaboration among banks and industry partners, thereby promoting the expansion of open banking-enabled payment solutions for businesses. Following the initial rollout focused on bills and subscriptions, Visa plans to incrementally introduce A2A for ecommerce payments in the UK. The upcoming ecommerce solution will allow customers to authorise payments directly from their bank accounts, streamlining the checkout process with a one-click purchase experience. Visa UK and Ireland managing director Mandy Lamb said: 'The UK has spearheaded innovation in financial services for many years, and in light of increasing fraud and international competition, we must continue to lead the way. 'We are proud to be working with our partners to deliver a state-of-the-art pay by bank experience, coupled with Visa's best-in-class consumer protections. 'Visa A2A is a game-changer – it means for the first time UK consumers and businesses using pay by bank will benefit from a similar level of protection typically associated with card payments.' Last month, the payments firm announced the availability of Visa AR Manager in the US, a solution aimed at automating the virtual card transaction process to support and preserve existing card transaction volumes. "Visa launches pay by bank solution in UK " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
FF News
3 days ago
- Business
- FF News
Visa Brings Smarter Pay-by-Bank with Built-In Consumer Protections to the UK Market
Visa, a global leader in digital payments, is today announcing that its new pay-by-bank solution is ready for market in the UK. Built on Visa's decades of payments expertise, Visa A2A gives consumers greater choice, control and protection over how they pay via bank transfers. It is designed to make pay-by-bank transactions — including bill and subscription payments— safer and smarter. Visa A2A introduces an easy and intuitive experience for consumers, allowing them to easily manage their bills and subscriptions through their bank app. For the first time in the UK, it also introduces Visa's best-in-class consumer protections to bank transfer transactions, including clear guidelines for consumers, businesses and banks on rights and responsibilities should things go wrong. This will effectively provide a similar level of protection typically associated with card payments, so consumers can get their money back if there is an error. Visa A2A also benefits businesses, as near real-time settlement through Faster Payment System gives them greater visibility over payments and makes cash flow management simpler. Businesses can take advantage of the digital nature of Visa A2A, including notifications if a consumer changes or cancels payment permissions, and it also provides them with the ability to include more transaction data for reconciliation. Visa A2A is based on an open model that will enable banks and other industry partners to join and extend open banking-enabled payments to businesses. With a commercial model designed to work for all participants in the ecosystem and to boost the UK fintech community, Visa A2A will help to unlock the full potential of open banking in the UK. Research from Innovate Finance indicates that advancing the UK's FinTech ecosystem – a key partner in the development and delivery of Visa A2A – could unlock £328 billion over the next five years1. Safer e-commerce With an operational technology platform ready to process bills and subscriptions, Visa plans to expand Visa A2A, including e-commerce payments in the UK with a phased approach. This expansion means consumers choosing to use pay-by-bank across a variety of use cases, could benefit from similar levels of protection to those currently offered by card payments. Visa A2A for e-commerce will offer a secure, hassle-free way to pay directly through bank accounts. Customers will be able to authorise this payment method once, then simply choose pay-by-bank at checkout for a one-click purchase experience that is fast, seamless and secure. Mandy Lamb, Managing Director, Visa UK and Ireland, said: 'The UK has spearheaded innovation in financial services for many years, and in light of increasing fraud and international competition, we must continue to lead the way. 'We are proud to be working with our partners to deliver a state-of-the-art pay-by-bank experience, coupled with Visa's best-in-class consumer protections. 'Visa A2A is a game-changer – it means for the first time UK consumers and businesses using pay-by-bank will benefit from a similar level of protection typically associated with card payments.' Isabel Pitt, Deputy Director of Payments, Nationwide Building Society, said: 'A2A payments are rapidly gaining traction across UK businesses and consumers, offering a seamless and efficient way to transact. However, for these payments to reach their full potential, the right framework – rules, capabilities, and protections – must be in place. That's why we're excited to collaborate with Visa and our industry partners to bring Visa A2A to the UK. This milestone innovation will enhance payment experiences and deliver greater security and convenience to Nationwide members.' Delphine Emenyonu, Head of Unsecured Lending & Open Banking, TSB, said: 'We welcome the opportunity to collaborate on Visa A2A in the UK alongside Visa and other industry participants. As interest in A2A payments continues to grow among UK consumers and businesses, ensuring the right infrastructure, standards, and protections are in place will be key to supporting their future development. We look forward to seeing how this innovation can benefit TSB's customers.' Matthieu Barral, VP, Global Partnerships, said: 'Visa is changing how money moves with A2A payments, and is proud to be one of the first to bring this solution to merchants in the UK.' 'Together, we are giving merchants the latest option in market innovation, setting a new standard for speed, security, and payment performance.' Ian Burgess, Managing Director, Utilita, said: 'We're excited to continue our long-standing relationship with Visa as we embark on the A2A journey. We are keen to provide choice for our customers and the evolution to A2A only reinforces our continued leadership in the prepayment energy sector. The reassurance that Visa A2A provides in terms of card-like protection to both the merchant and the consumer was a key factor in our decision to partner with Visa on this initiative and we can't wait to adopt this within both our credit and prepay payment journeys.' Zak Lambert, Head of Product for Plaid Europe, said: 'This partnership brings together Visa's trusted rails and Plaid's open banking network to make paybybank as simple and secure as card on file. It's a new standard for how consumers and businesses move money—fast, protected, and ready to scale.' Alexey Gabsatarov, Chief Technology Officer, Kroo, said: 'Kroo Bank welcomes Visa's new A2A solution, an important step forward for both open banking and account-to-account payments. We view it as an inclusive, industry-led model that prioritises consumer protection, confidence and usability. Visa has already demonstrated the benefits of applying its card scheme expertise to A2A payments, and we look forward to deepening our partnership to increase choice and strengthen trust for consumers, businesses and the wider banking community.' Eline Blomme, Chief Product & Strategy Officer, said: 'We are incredibly enthusiastic about the future of A2A payments with Visa and discussing this with our industry peers. The collective expertise in this space is instrumental as we work to bring Variable Recurring Payments (VRPs) to the forefront of the UK market.' 'As a payments agnostic provider, powering recurring payments is at the heart of our business. Partnering with Visa A2A for VRPs represents a pivotal step forward in this area, unlocking unprecedented levels of security, flexibility and transparency for customers and offering a seamless alternative to traditional Direct Debit.' Colin Swain, Head of Product, Corporate Solutions, Bottomline, said: 'As a global leader in business payments, Bottomline is excited to explore new opportunities that help shape the future of how businesses pay and get paid. With a strong track record of simplifying the collection of both single and recurring payments, Visa A2A complements the growing shift toward real-time and instant payment methods for recurring use cases.' Myles Stephenson, CEO & Founder, Modulr, said: 'We're delighted to be part of the launch group of Visa A2A, working closely with Visa and other participants to drive forward the next phase of innovation in A2A payments. This is a significant step forward in implementing a sustainable, industry-leading solution, aligning with Modulr's commitment to provide seamless and secure payment experiences for customers.' Ian Morrin, Head of Payments, Tink, said: 'There is clear momentum behind pay by bank solutions in the UK market, so it's fantastic to see Visa spearheading innovation and industry collaboration with the development of Visa A2A.' 'This is a pivotal moment for fintech companies, like Tink, and banks to work together to provide enhanced account-to-account experiences for consumers and businesses alike.'
Finextra
3 days ago
- Business
- Finextra
Visa A2A payments land in the UK
Card giant Visa is taking aim at the UK's burgeoning account-to-account market through its new pay-by-bank offering. 0 Visa A2A promises to give Brits greater choice, control and protection over how they pay via bank transfers. The firm says it will let people easily manage their bills and subscriptions through their bank app while effectively providing a similar level of protection typically associated with card payments. For businesses, Visa A2A takes advantage of real-time settlement through Faster Payment System to offer greater visibility over payments and simpler cash flow management. Firms can take advantage of the digital nature of the service to get notifications if a consumer changes or cancels payment permissions, and it also provides them with the ability to include more transaction data for reconciliation. With an operational technology platform ready to process bills and subscriptions, Visa plans to expand Visa A2A to include ecommerce payments in the UK with a phased approach. The firm is also working with an open model that will enable banks and other industry partners to join and extend open banking-enabled payments to businesses. Mandy Lamb, MD, Visa UK and Ireland, says: "Visa A2A is a game-changer - it means for the first time UK consumers and businesses using pay by bank will benefit from a similar level of protection typically associated with card payments." Isabel Pitt, deputy director of payments, Nationwide, adds: "A2A payments are rapidly gaining traction across UK businesses and consumers, offering a seamless and efficient way to transact. However, for these payments to reach their full potential, the right framework - rules, capabilities, and protections - must be in place. That's why we're excited to collaborate with Visa and our industry partners to bring Visa A2A to the UK."
Finextra
27-05-2025
- Business
- Finextra
Token.io becomes first third-party provider admitted to giroAPI scheme
the leading account-to-account (A2A) payments infrastructure provider, today announced it has become the first third-party provider (TPP) to be admitted to the giroAPI scheme. 0 This milestone positions at the forefront of premium API payment innovation in Europe and will enable its partners — which include tier 1 banks and payment services providers — to access advanced payment capabilities and new business models through the German Banking Industry's (DK) pioneering giroAPI scheme. giroAPI is the first API scheme in Europe to go beyond traditional payment transactions. It was launched by the German Banking Industry Committee associations (BVR, DSGV, VÖB, and the Association of German Banks) on 1 January, 2025, and is built on the Berlin Group's openFinance API framework. This provides a standardised, secure, and commercially governed interface that connects banks with TPPs like As a member of the giroAPI scheme, will be able to deliver new account-to-account payment (often called 'Pay by Bank') features to its partners. These include online micropayments exempt from Strong Customer Authentication (SCA), as well as recurring and future-dated payments, empowering consumers to schedule regular transactions — such as subscriptions or utility bills — by pre-authorising a maximum payment amount. Businesses will be able to offer customers significantly greater choice and control when making payments, supporting use cases such as ecommerce transactions, travel bookings, and instalment-based payments. André Nash, Head of Banking Technology and Security, Bankenverband, for giroAPI commented: ' admission as the first TPP marks a significant step in realising the vision of giroAPI: to foster innovation and deliver new value-added services through secure, standardised APIs. We look forward to working with to enable the next generation of Open Finance services for banks, businesses, and consumers across Europe.' Gideon Fourie, Managing Director, Token GmbH, said: 'Being the first TPP to join giroAPI is a tremendous opportunity. participation means our partners will be able to access new payment experiences supported by a rapidly growing network of banks through a single, secure connection. This will provide German banks and consumers with more payment choices, and strengthen the competitive position of Germany's financial institutions.' Charles Damen, Chief Product Officer, added: 'This is a major milestone for the evolution of Pay by Bank, providing businesses in Europe with payment services comparable to Variable Recurring Payments (VRP) in the UK, complemented by additional cutting-edge Pay by Bank capabilities. By joining giroAPI, is enabling the next wave of premium, API-driven payment services — making it easier for businesses to offer innovative payment options and for consumers to benefit from seamless, secure experiences. We are proud to lead the way in bringing the full potential of open banking-enabled payments to the European market.' Analysts predict that three in four Europeans will regularly use Pay by Bank by 2029, with Pay by Bank becoming only second to digital wallets for online transactions by 2030. admission to giroAPI further cements its leadership in the European payments landscape. With access to over 190 banks already in the scheme and plans for further expansion, is set to drive the future of Pay by Bank in Europe.
Finextra
27-05-2025
- Business
- Finextra
ACI Worldwide rolls out centralised payments hub
ACI Worldwide is bringing together account-to-account (A2A), card payments and AI-driven fraud prevention on a unified cloud-native platform, ACI Connetic. 0 The centralised platform includes Swift cross-border payments, RTGS payments including Target2, SEPA Instant RT1 and TIPS payments, with the addition of more capabilities planned. The firm is collaborating with the Bank of England, ECB, EBA Clearing, and Stet, as well as Swift, the Federal Reserve and The Clearing House, to integrate their payment flows. The product is designed to make it simpler, faster and more cost-effective for banks and financial institutions to move away from siloed systems and modernise their payments infrastructures. 'We built ACI Connetic to give banks a future-proof foundation to meet the ever-increasing demand for faster, smarter and secure payments,' says Scotty Perkins, head of product for banking and intermediaries at ACI Worldwide. 'Built for scalability, intelligence and resilience, ACI Connetic empowers banks to reduce complexity, accelerate product innovation and deliver new solutions to their customers in an unprecedented way and at unprecedented speed.' ACI will be showcasing Connetic at EBAday 2025, Europe's annual summit for the leading payments and transaction banking executives.
