Payments orchestration platform Paytently has introduced an innovative account-to-account payment service leveraging open banking technology from Mastercard.
Paytently Open Banking, powered by Mastercard Open Finance, allows shoppers to make direct payments from their bank accounts at checkout. This solution aims to enhance conversion rates for merchants and improve cash flow.
By integrating Mastercard’s open banking connectivity with Paytently’s orchestration layer, the service promises to streamline payments end-to-end. It provides secure bank authentication, initiation, and improved reconciliation in a unified process, enhancing operational efficiency.
Paytently’s proprietary orchestration engine directs each transaction through the most effective channel, ensuring instant payment confirmation and quicker settlement.
Samuel Barrett, CEO of Paytently, stated: “By combining our orchestration expertise with Mastercard’s open banking technology, we’re enabling merchants to move money faster, reduce operational friction, and ultimately create a more seamless experience for their customers.”