Last Updated on: 21st November 2023, 10:28 pm
Exactly.com has launched its latest product, the Open Banking API, which promises to revolutionize the way we make payments. This innovative new API presents a faster and more cost-effective solution than traditional card-based payments, making it an attractive option for both merchants and customers.
Open Banking is a rapidly growing movement that is changing the financial industry by increasing accessibility, fostering competition, and providing personalized and innovative financial services. By leveraging Open Banking, Exactly.com’s Open Banking API enables merchants to expand their business in the UK and Europe while offering customers a simpler, more secure, and transparent payment experience.
Merchants stand to benefit significantly from Exactly.com’s Open Banking API. Firstly, the opportunity to expand their business in the UK and Europe, which is made possible by the API’s compatibility with the Open Banking standards established by the UK government. Additionally, the API’s smooth payment process results in increased conversion rates, while fewer intermediaries mean lower transaction costs. The API also utilizes existing bank security features and protocols to offer advanced fraud detection and prevention, which is crucial in today’s digital landscape.
Customers, too, can take advantage of the Open Banking API’s benefits. The possibility to reduce service costs is one of the most attractive advantages, and the advanced security backed up by clients’ banks provides peace of mind for those wary of online fraud. Transparent banking is another significant benefit, as it increases trust and clarity, making it easier for customers to understand the payment process. Finally, the simplicity of the payment process itself results in a smoother customer experience, which is becoming increasingly important in today’s fast-paced world.
But that’s not all – Exactly.com’s Open Banking API also offers additional benefits. The advanced chargeback alert and analytics system continuously watches all transactions, helping to protect merchants from chargebacks. Access to the merchant account management system is secured by two-factor authentication, which protects against potential break-ins. Fast integration is another advantage, with businesses able to choose an integration type that fits their needs and start accepting payments immediately. The payment page can also be tailored to the brand design, resulting in a truly seamless payment experience for customers. Custom feature development is also available on demand, allowing businesses to widen their opportunities, and real-time reporting ensures instant access to key financial information.
In conclusion, Exactly.com’s Open Banking API is a game-changer in the world of payments. By offering a faster, more cost-effective, and secure solution, it benefits both merchants and customers. Its compatibility with Open Banking standards established by the UK government enables businesses to expand, while the advanced chargeback alert and analytics system and two-factor authentication provide robust security. With fast integration, tailored payment pages, custom feature development, and real-time reporting, Exactly.com’s Open Banking API offers a truly seamless payment experience that is sure to appeal to businesses and customers alike.
