The payment company Unzer has launched a pay-by-bank tool in conjunction with Mastercard.
On Thursday, February 27, the mentioned firm, based in Berlin, announced Unzer Direct Transfer, which is an open banking-powered method that allows consumers to pay directly from bank accounts without using a credit or debit card.
Timo Seifert, the company’s director of product, stated that with the specified solution, the firm has launched a simple and trustworthy payment method based on Mastercard’s open banking infrastructure. Also in this context, it was noted that merchants benefit from faster settlements and higher conversion rates by providing customers with an easy and secure method to pay.
In a press release published by the company, it was noted that the new tool processes transactions through existing banking authentication systems such as biometric verification, which provides a simpler and more efficient experience. For merchants, the pay-by-bank product addresses such common obstacles as card limits and the risk of fraud. Moreover, in this case, the probability of declining the transaction is reduced.
Unzer also announced its intention to introduce a white-label option, in which the company operates behind the scenes. In this case, merchants can customize the checkout process to match their branding. This helps build trust and loyalty with customers, reduces card abandonment, and creates a seamless shopping experience.
Unzer and Mastercard formed the collaboration in November. The giant of the payment industry is an open banking partner of the company in Germany, Austria, and Denmark.
As we have reported earlier, ADB Partners Mastercard to Boost Financing for MSMEs.
