Banked is a new global payment network offering Pay by Bank as a real alternative to the card schemes.
Whilst open banking has been around for four years, much of the focus on utilising it was for account information services, providing data to help make more informed financial decisions. For Banked however the focus has been on payments to improve upon legacy experiences, reduce costs and provide business efficiencies. Businesses are becoming much more interested in the benefits and this coming year is set to be a big year for adoption of the payment method.