Paypoint (GB:PAY) has released an update.
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PayPoint’s Open Banking technology arm, obconnect, has been selected by the New Zealand Banking Association to implement the Confirmation of Payee system, enhancing secure payments across major banks in New Zealand. The service, starting from November 2024, will provide customers with the ability to verify account details before transactions, thereby reducing errors and fraud. This move comes on the heels of PayPoint’s strategic investment in obconnect, indicating an expansion of their influence in the Open Banking sector.
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