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.”
Latest News
-
BBVA pushes ahead with Sabadell takeover despite government merger restrictions
-
Yonder rolls out debit cards
-
Klarna integrates services into Bolt payment platform
-
Monzo top UK bank for SME current account switch gains in 2024
-
UK regulator says Mastercard and Visa are breaking competition law
-
Kraken launches global money app
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories