Open Banking Payments
Enable customers to pay directly from their bank using secure Open Banking technology. SOTpay removes the need for card details, reduces processing costs, and provides instant payment confirmation.
Link Pay Bank
Secure Open Banking payment requests
Link Pay Bank enables businesses to send secure bank payment requests directly to customers. Customers authenticate using their banking app and complete the transaction instantly, removing the need for card processing while improving payment speed and reducing fees.
Instant LedgerLink
Direct bank-to-bank credit transfers
Instant LedgerLink allows businesses to initiate secure bank payments directly from their account using Open Banking technology. This supports fast settlement, simplified beneficiary setup, and secure transaction processing without relying on traditional card networks.
Why Open Banking Payments Matter
Open Banking payments remove the need for card processing by allowing customers to pay directly from their bank account. This reduces transaction fees, improves payment speed, and eliminates the need to handle sensitive card data.
For businesses handling high-value or remote transactions, Open Banking provides a secure and cost-effective alternative to traditional card payments.
How Open Banking Payments Work
- Payment request generated
- Customer selects Open Banking option
- Customer redirected to banking app
- Customer authenticates securely
- Payment authorised instantly
- Confirmation returned to business
Benefits of Open Banking Payments
- Reduce transaction fees
- No card details required
- Instant payment confirmation
- Strong customer authentication
- Lower fraud risk
- Ideal for high-value transactions
- Secure bank-to-bank transfers
- Improved cash flow visibility
Reduce fees with Open Banking payments
See how SOTpay Open Banking payments help businesses lower costs while maintaining secure transactions.
