Fancy a pint? Your next one could be paid for using open banking, as popular UK pub operator and brand, J D Wetherspoon, has introduced Payit by NatWest as a payment option within its app.
Powered by open banking technology, Payit removes the need for any card or bank details, meaning customers don’t need a debit or credit card, and doesn’t require personal information to sign up for an account, to pay for goods at Wetherspoons.
This new payment option enables customers to complete in-app orders quickly, as Payit directly opens their banking app of choice and allows them to select the appropriate bank account to pay with. As there is no need for card details to be stored by a third party, the risk of online fraud is minimised, enabling consumers to enjoy their orders worry-free.
Customers do not have to bank with NatWest in order to utilise Payit at checkout. Wetherspoons explained that integrating Payit into its app provides patrons with a fast, secure and reliable means to complete in-app pay orders.
Mark Brant, chief payments officer at NatWest Group, comments: “This new partnership with one of the UK’s most recognisable brands is an exciting move for Payit by NatWest. It’s one that allows us to provide a company with an extensive consumer base a way to reduce the cost of taking payments.
“Ensuring the latest payment technology is available to as many consumers as possible is also one of our key ambitions as a business. The added security afforded by open banking technology reduces the risk of sensitive information, such as card details, falling into the wrong hands.”
Twenty-four banks connected to the Payit service, including the nine largest banks serving the UK and Ireland (AIB Group, Bank of Ireland, Barclays, Danske Bank, HSBC, Lloyds, Nationwide Building Society, Royal Bank of Scotland, as well as Santander).
