DNA Payments launches Open Banking service

UK-based DNA Payments has announced the launch of its Open Banking payments service.

The integrated payments company is partnering with Ecospend, which will deliver the service to DNA Payments’ 30,000 merchants.

Ecospend has more than 50 UK bank APIs and is currently developing its PSD2 model.

“Ecospend's technology gives us the perfect opportunity to deliver the latest payments technology in the market,” said Nurlan Zhagiparov, director of DNA Payments. “This latest solution underscores DNA's commitment to innovative thinking and responding to the needs of the market.”

Zhagiparov added: “The partnership with Ecospend will enable our clients to offer an additional cost effective and secure payment solution via Open Banking Payments. After extensively reviewing the market, we found that Ecospend's technology and reach are unrivalled, and we are delighted to announce this partnership.”

Metin Erkman, chief executive of Ecospend said: “Soon we will be able to offer all EU users our market-leading bank payment and data-solutions. Having won the HMRC tender and now DNA Payments, we are fast emerging as the key Open Banking platform in Europe. As British industries start to recover from the economic consequences of COVID-19, Open Banking will represent a unique opportunity for businesses to make cost savings while improving security and the quality of the user experience.”

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