Reflow is the first TPP to have completed integration of version 3.1 across all CMA9. Latest version simplifies checkouts with frictionless secure direct bank payments for customers without them having to use or expose their debit or credit card details online.

FlowPay payment method provides simpler checkout experience for customers by simply allowing them to select their bank provider, which then initiate payment directly with the bank by redirecting customer interface channel to bank mobile app or online banking website. This removes the need to enter long card numbers and the fear of getting card details stolen or hacked. With no new logins or passwords, the customer approves the payment by using Touch ID or Fingerprint on their banking mobile app or their online banking password.

Direct bank payments provide benefits to consumers as well as to businesses. Customers gets all the benefits of top-level security using the trusted and familiar payment experience provided by their own bank, view real-time balances before confirming the payment, no low balance payment declines. Every transaction is authorised by the customer from the safety of their banking channel either using website or mobile app.

More than 600 million pounds were lost due to card fraud in 2018. FlowPay makes online fraud a thing of the past with transactions authenticated through the customer’s Bank account, and all the cost associated with fraud gets eliminated.

Businesses using the FlowPay get near ‘real-time’ payment settlement using the faster payment infrastructure, cheaper than costly card fees and also spends up customer onboarding. No hassles of PCI compliance as no customer card details held, it makes checkout simple and increases conversion rate.

Commenting on the launch Manish Garg, Founder and CEO of Reflow said: “I am genuinely very excited about FlowPay’s direct bank payments enabled by Open Banking. There are over 11m banking app logins each day as the bank mobile app becomes the standard mode of managing money. That’s why we have built FlowPay which enables businesses across industry sectors to provide their customers a seamless, safe payment experience using open banking payment APIs which works frictionlessly on mobile by opening bank app directly or redirecting to bank’s website. It's about breaking down barriers to simplify payments by creating new experiences and making it easy to transfer money, pay bills or make payments between businesses and consumers.”