BNY Mellon, in collaboration with Trustly, launched an open banking-based service for organizations to support consumer payments directly from bank accounts.
It is known as Bankify and is BNY Mellon’s transaction payments expertise with Trustly’s open banking capabilities.
It will allow the bank’s clients to offer end-users the ability to easily make payments directly from their bank accounts as an alternative to credit or debit cards and third-party payment platforms.
It is designed with a consumer-to-business payment flow approach that ranges from merchant payments to bill pay or account and digital wallet funding.
Read More: BNY Mellon launches open banking payments service
