On­line shop­ping with­out debit or credit cards tri­alled by ma­jor lender as Open Bank­ing beds in

Belfast Telegraph - Business Telegraph - - Nijobfinder - BY VICKY SHAW

A NEW way of pay­ing for shop­ping on­line which re­moves the need to use debit or credit cards is be­ing tri­alled by Natwest.

The bank said the tech­nol­ogy, which takes peo­ple di­rectly through to their bank ac­count, could pro­vide cus­tomers with an al­ter­na­tive way to pay when mak­ing se­cure pur­chases on­line or on their mo­bile.

The ser­vice re­moves the need for peo­ple to spend time in­putting their long card num­bers by pro­vid­ing them with the op­tion to press a Natwest but­ton at the end of the pur­chase process which will take them through to their mo­bile app.

The per­son mak­ing the pur­chase can then lo­gin with Touch ID or their stan­dard pass­word be­fore the process com­pletes.

The bank said the ini­tia­tive could cut the length of time it takes to make an on­line pur­chase from min­utes to just sec­onds.

Natwest also said pay­ing in this way us­ing the mo­bile app means cus­tomers can im­me­di­ately see their bank bal­ance when they make a pur­chase, help­ing them to avoid nasty sur­prises and po­ten­tial over­draft fees.

A trial has been tak­ing place in­volv­ing Car­phone Ware­house, Natwest said.

It said in the ini­tial trial, over half of cus­tomers chose to make their payment us­ing the Natwest ser­vice, rather than use their card.

Fol­low­ing early signs of suc­cess, Natwest plans fur­ther tri­als with other busi­nesses.

The bank said the new payment ap­proach could help com­pa­nies by re­duc­ing the need for them to store sen­si­tive data and po­ten­tially mak­ing re­funds eas­ier.

Natwest said the trial has been made pos­si­ble due to Faster Pay­ments and Open Bank­ing.

Open Bank­ing is a new se­cure way for peo­ple to share their in­for­ma­tion, mak­ing it eas­ier generally for com­pa­nies to of­fer them new payment meth­ods.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.