The eWise Online Banking ePayments (OBeP) network, unlike other alternative payment options, keeps financial institutions in the primary position of the payment chain, allowing them to protect and regain revenue being lost to alternative payment providers while leveraging existing online banking infrastructure. By utilising VocaLink’s Immediate Payments platform in partnership with the eWise OBeP network, financial institutions will also benefit from a service that provides real-time consumer authentication, validation of sufficient funds and a guaranteed payment to the merchant.
Nick Masterson-Jones, Managing Director of Transaction Services at VocaLink said: “We are delighted to partner with eWise, to deliver innovation in the online payments market. We have selected eWise because, through their knowledge and expertise in this field, they are clearly well placed to establish and operate an OBeP network in the UK. “
Richard Brierley-Jones, Managing Director of eWise’s Payments Division commented: “We are pleased that VocaLink recognizes the value we can bring not only to its financial institution customers but to the end consumer as well. We plan to deliver new alternative online payments solution that will address the increased demand by consumers for a simple and secure payment option.”