Page Comparison

Open Banking

Open Banking processes the entire transaction through online banking; in a Bank-to-Bank rail, payments enter the business account directly from the customer’s account.

Credit/Debit Card

A Debit/Credit Card payment is when a card is used for you to accept payments from your customers, by providing a network that binds cardholders, issuers, merchants, and acquirers for you to get paid.

Direct Debit

Once customers have issued a mandate, you can prompt Direct Debit payments, enabling you to accept recurring payments directly from your customer’s bank accounts.
Direct Debits are direct from bank to bank, so all communications happen between banks.