Mastercard's Aiia Introduces New Payment Feature

Aiia, Mastercard's European open banking pioneer, has announced the launch of Pay by link, the company's newest payment feature. Businesses in any industry can use the functionality to eliminate superfluous payment stages by generating a simple link that allows clients to pay quickly in any situation.

According to the press release, the new payments feature "ties directly into Mastercard’s open banking vision of ushering in a new era of choice, simplicity and personalization in a safe and secure manner."

Users working with accounting, insurance, and telecom companies, as well as social commerce, payment service providers, and utility companies, can use Mastercard's Pay by Link function, which is based on open banking payments.

"We're in the process of transforming the way people pay bills,With a simple link, we make it easy and secure to pay a bill on the go with a bank account without having to enter or remember payment details," said Rune Mai, co-founder and CEO of Aiia.

Pay by Link is now being rolled out in the Nordics, with plans to expand to the rest of Europe by the end of the year. Aiia's new feature is now live with Dinero, a Nordic accounting software supplier, allowing over 77,000 small and medium-sized businesses to streamline invoice payments.