NatWest, one of the UK’s largest banks, announced their open banking payment platform, Payit, has introduced a new feature allowing businesses to make payments without the sender requiring the recipient’s account details. The feature works by sending a secure, single-use payment link via email, text message, or social media. The recipient can then claim the link and select the account to credit the payment using NatWest’s open banking payments service. The functionality is designed to save time for small and micro-businesses, making it easier to send low-value payments and supplier payments.
Natwest Debuts Payment Links for Open Banking Payments