Cardstream Integrates Nuapay to Deliver Open Banking Capabilities

​UK-based Cardstream has announced it would integrate with EML Payments' Nuapay to provide Open Banking capabilities for online merchants.

Through this partnership, Cardstream's Open Payment Network of White Label Partners, which includes ISO (Independent Sales Organisation) and ISV (Independent Software Vendor) resellers, are enabled to offer to its customer Nuapay's collection and instant Open Banking payment services in 28 EU and UK markets.

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Additionally, Cardstream's merchant user base can use Nuapay's Account2Account (A2A) payment services, which are accessible through all existing integration methods, as well as ecommerce platforms to enable Pay Now and Pay In Instalments. 

Using Secure Customer Authentication (SCA), Open Banking payments have a high level of security and help reduce fraud risk, while simultaneously helping merchants save time and money.

Nuapay officials have stated that the integration of A2A functionality is a step forward when it comes to Open Banking adoption, the partnership with Cardstream facilitating the delivery of Open Banking payments to an increased number of UK merchants, and thus enabling thousands of consumers to experience consistent ecommerce payments. 

Cardstream representatives have stated that A2A payments benefit both merchants and consumers. When it comes to merchants using Cardstream, they will have faster access to funds, auto-reconciliation, and reduced costs, whereas payers will be able to benefit from a better user experience, instant access to refund credits, as well as the ability to leverage biometric authentication for a fast payment process.

(Source: The Paypers)