Salt Edge and allpay utilise Open Banking to bolster financial inclusion

open banking
open banking

UK-based payments specialists allpay has linked with Salt Edge to tap into Open Banking for a focus on financial inclusion. 

The collaboration will focus on a seamless payment journey at a time when the challenge for many is immense. 

Michelle Pacey, Managing Director at allpay, commented on the move: “Working with Salt Edge allows allpay to grow its presence within the Open Banking sectors with exciting new products such as Confirmation of Payee (CoP) and A2A payments. 

“Offering API technology enables seamless integration with clients leveraging the latest technology to improve client and end-users user experience journey.”

The steps emphasised the focus of allpay as the firm puts financial inclusion at the heart of its strategy. Intending to promote financial inclusion further, allpay became fully Open Banking compliant offering customers the possibility to connect their allpay accounts to other apps to share data and initiate payments.

“Living in the current uncertain times increases the need for digital financial inclusion. Open banking is a major step towards inclusive growth, facilitating access to financial services for helping the financially excluded population. 

“Teaming up with allpay and knitted by a common goal, here at Salt Edge we concentrate all the efforts to make financial services affordable for people and sustainable for businesses, thus improving the overall quality of their lives”, added Vasile Valcov, Chief Commercial Officer at Salt Edge. 

As part of the collaboration, allpay banking cardholders are enabled in the UK to securely connect their allpay prepaid accounts to third-party providers (TPPs), other banks, building societies and financial service providers.