Why did you select Direct payments?
Making sure that the end-user always has coverage on their debit card is important to make them feel secure and increase usage of the card. So, adding funds to the card should not feel like a transaction or a purchase.
“We always foresaw that in the future we need to over bridge the barriers of a debit card. Using Finshark and Open banking was the best way to do so.”
It’s not only cheaper and easier than a card-to-card payment, it also resembles more regular bank transfers where users transfers money from ie. a savings account to a spending account. Making the switch over to a bank transfer is the first step in future Finshark integrations for Plexian.
Right now, Plexian are using Finshark’s Direct payments to let users transfer money to their debit card. Going forward, it might not end there! The possibilities with Open banking, both AIS (account information service) and PIS (payment information service), are great. Users could potentially “top-up” their cards in a Point of Sales (POS) terminal, transfer money through a text message when funds are low, or automatically transfer money on recurring basis.
“We are looking forward to go into a joint exploratory with Finshark to unlock more possibilities within Open banking.”