Pay by Bank聽app has announced a partnership with Starling Bank that will bring its market-leading mobile payments service to the bank鈥檚 customers.
Starling Bank is the first challenger聽bank to commit to Pay by Bank app鈥檚 technology, which enables customers to make real-time payments directly from their existing mobile banking app on their smartphone or tablet.
The technology also provides a high level of聽security as customer details are never passed to the merchant and remain safe within their banking app.
鈥淎t Starling we鈥檙e committed to building a bank that adapts to customer鈥檚 lives, rather than interrupts them.
鈥淭hat is why we have built a mobile-only bank, and focus on giving people control and clarity over their everyday money,鈥� said Julian Sawyer, Chief Operating Officer of Starling Bank.
鈥淚t is also why we believe our partnership with Pay by Bank app is important as it not only allows customers to bank and transact on the go, but also to benefit from a greater range of choice and sense of security.
鈥淧ay by Bank app鈥檚 鈥榯oken鈥� technology means financial data never leaves the customer鈥檚 banking app during a transaction, staying safe and secure. This is an exciting innovation and we are proud to be part of helping it become a more mainstream form of online payments.鈥�
With 拢533 billion being spent online annually in the UK, Pay by Bank app offers a fast, easy and secure way to make online and mobile payments.
Payments work through secure digital 鈥榯okens鈥�, removing the need for customer financial details including account details to be provided to a merchant when a purchase is made.
Making payments in this way gives customers complete control over their spending with minimal effort 鈥� removing the need聽to download software and remember passwords or logins. Customers also have the ability to see their current account balance every time they pay.
Pay by Bank app is powered by VocaLink and supported by the UK鈥檚 leading banks and acquirers. It is the only service to offer seamless and secure integration between mobile banking apps, current accounts and the Faster Payments Scheme.
Rajiv Garodia, Managing Director of Pay by Bank app, commented: 鈥淪tarling Bank offers a unique proposition to customers with simplicity and security at the heart of what they do 鈥� making it a natural fit for Pay by Bank app.
鈥淭he fact that Starling Bank, which is known for its pioneering approach to banking and technology, has committed to Pay by Bank app, reflects growing recognition that the service is fast becoming the 鈥榮tandard鈥� for mobile payments.鈥�