First known deployment of open banking payments for telephone orders
Leading provider of account to account payment solutions, Nuapay, today announces that it has been selected by PayGuard® a brand of Fusion Telecom to provide open banking payment services to its call centre customers. This is the first known deployment of open banking payments for telephone orders.
Fusion Telecom helps contact centres of all sizes interact with their customers by fusing leading contact and payment technologies. Its secure payments product, PayGuard®, enables companies to take payments over the phone or by instant message and set up recurring payments in minutes, all while ensuring compliance with security and data privacy regulations.
Working with Nuapay to integrate open banking payments into PayGuard® enables Fusion Telecom to go one step further, by bringing SCA compliant payment options to its customer base. In what is understood to be a first for the open banking industry, Fusion Telecom’s 100 merchant clients, spanning travel, retail and insurance, will be able to accept ‘push’ payments made from their customers’ mobile device or computer once a telephone order has been completed.
Enabling ‘push’ payments, where the payer instructs their bank to send money from their account directly to the recipient’s account, means that no card or account credentials are disclosed – vastly reducing the risk of fraudulent transactions. In addition, funds are transferred in real-time, enabling faster distribution of goods and services and more positive customer relationships for merchants.
“We’re excited to be working with PayGuard® on the first known open banking payments deployment of this kind”
Adam Norsworthy, Managing Director of Fusion Telecom, comments: “We are delighted to be partnering with Nuapay. After an extensive search and vetting of open banking partners available around the world, Nuapay offered an innovative product set and a culture of putting people first, which was key as we aim to continually improve the customer experience. Nuapay’s proven support for their partners at scale and extremely high technical competence was another crucial area for us as a company and brand, and we look forward to working together.”
“We’re excited to be working with PayGuard® on the first known open banking payments deployment of this kind,” adds Brian Hanrahan, Chief Commercial Officer of Sentenial, Nuapay’s parent company. “Already this year, the number of consumer open banking users in the UK passed the one million milestone. This figure will only continue to grow as fast, cost-effective and highly secure payments become the norm for businesses and consumers alike. With over 6,000 contact centres in the UK, 61% of which accept payments, initiatives like this will increase adoption even further.”
Nuapay’s PISP processor has a single connection to all major banks in the UK and a growing number of connections across Europe, ensuring that Fusion Telecoms’ clients’ payments will be supported, no matter where their customer’s bank.
Nuapay is a pioneer of Open Banking and is the industry’s leading provider of Account-2-Account payment solutions. Building upon the trust, scale, and experience of our parent company, Sentenial, we securely process ~£40bn in payments every year for many of the world’s leading Banks, payment providers and merchants.
Today, we offer our partners a comprehensive A2A payment solution. Our Open Banking products are unique in today’s market: Refunds? No problem. Instalment plans? We power it. We also offer customers our Direct Debit, Credit Transfers and Instant Payment products all through one platform, giving you a full payment solution powered by our Nuapay accounts, and easy to integrate through our industry-leading APIs.
We continually work tirelessly to reinvent what’s possible with our banking and payment solutions, removing inefficiencies and unnecessary costs, saving you time, money and resources at every turn.
This is payments as it should be.