A2A payments are a very safe method of payment. The payer does not need to share any bank details, login, or password. The payer has full control over the authorisation of payments and there is no need to type sensitive information. Credentials are never stored by merchants, and only payments that have been consented can be processed.
- A2A payments use strong customer authentication
The authorisation happens via an encrypted and secure redirection to online banking.
- Payments instructions are pre-populate
The payer does not need to enter any payment information, so the error rate is reduced.
- Merchants are protected against chargebacks
Not only, chargebacks can be extremely expensive for merchants, but they can also often be fraudulent. Unlike cards, Open Banking does not offer chargebacks.
- Due diligence is carried out on merchants
KYC/KYB checks are conducted on every merchant that uses A2A payments via Token.io.