Noda launches Pay & Go to streamline checkout compliance

credit: Shutterstock
credit: Shutterstock

Open Banking provider Noda has launched a payment compliance solution for merchants to streamline the customer journey. 

Pay & Go aims to simplify the checkout journey that requires KYC, verification and payment processing all in one place through a single registration, verifying the customer identity and making the payment. 

The new Noda solution looks to optimise merchant acquisition strategies by enhancing the overall user experience, making onboarding faster, smoother, and more efficient. 

To integrate Pay & Go, merchants will need to add the Pay & Go button on their respective website or app. Once the user clicks this button, they will be onboarded to Noda’s payment process via their bank. 

The bank then shares the user’s verified personal information to Noda, which is further validated by KYC providers, GBG and Sumsub. Within seconds, the user is registered, verified, and allowed to make their payment all within a single flow.

Noda launched Pay & Go to help boost merchant conversion rates with ultra-fast onboarding by reducing the friction often associated with registration and KYC processing. 

The solution also intends to smoothen the user verification process by directly connecting with banks, whilst also enabling instant refunds and payouts once the user is registered through Pay & Go. 

Konstantin Khvorostianoi, Chief Product Officer, said: “Acquiring new users today is an expensive process. Losing even a single paid user can have long-term impacts on business metrics, while successfully converting paid and organic traffic into active users can yield positive outcomes. 

“Pay & Go helps increase conversion rates by ensuring that leads become active users, without dropping off during any stage of the registration process. This allows merchants to fully leverage the potential of their user acquisition efforts. 

“It’s especially important for industries where identity verification is a mandatory part of the user registration.”