Open Banking

Expediting collections, reducing costs, customer-focused

Wondering how to harness the power of Open Banking?

Harness the power of Open Banking to offer a more convenient solution for the customer, and to experience a lower cost-to-collect together with expedited collections, prior to placing with an agency panel. Qualco offers an Open Banking service to deliver faster, more efficient results.

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How does Open Banking work?

Qualco Open Banking flowchart

Secure, seamless & customer focused

Qualco is partnered with a leading A2A payments initiator to provide its white-labelled Open Banking service. The benefits to clients include a seamless customer journey, enhanced collections rates and reduced agency commissions, and for the customer a faster, more convenient payment platform. The Open Banking service is recommended as the first stage of a clients’ collections strategy, providing a secure and efficient method of recouping outstanding accounts before engaging a full agency panel.

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The benefits of Open Banking

Convenience

For the customer, transactions are faster and secure; opting to pay via Open Banking negates the need to input card details.

Secure

Payments are authorised on bank level security, significantly reducing the risk of fraud and eliminating chargebacks.

Instant

Money is sent directly from one account to another on the Faster Payment rails for a real time clearing of funds.

Seamless checkout

No card or bank data is ever inputted. Customers confirm the payments using their biometric ID available on their device.

Cost effective

Bypass all card networks by sending money directly from one account to another, drastically reducing the cost of payments.

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