NatWest has teamed up with the Carphone Warehouse to trial an online shopping system that lets customers ditch their debit and credit cards and pay directly through their bank account. According to the Press Association, when checking out on the Carphone Warehouse site, shoppers are presented with a NatWest button that they can press to be taken to the bank's app, where they log in and complete the payment. NatWest says that the pilot has proven a big hit with customers, cutting purchase times and ensuring that bank balances are immediately accurate. Meanwhile, retailers like Carphone Warehouse benefit from lower processing fees and bank-grade security. NatWest plans to carry out more trials with other businesses in the coming months and, because the system harnesses the UK's new Open Banking regime, could eventually offer it to customers of other banks. Dean Wallace, practice lead, at ACI Worldwide, says: "NatWest is the first UK bank to launch a truly innovative payments service, leveraging Open Banking compliant APIs and its direct connection to the UK’s Faster Payments Service. Adds Wallace: "Adds Wallace: "The core concept at play here is globally referred to as ‘Request for Payment’ - not to be confused with FPSL’s Request To Pay service which is not yet launched - where the person or entity that wants to be paid for goods or services asks to be paid via a trusted third party who then routes the payment request to the consumer’s bank. "The bank then uses a secure mobile app to present the ‘Request to Pay’ to the consumer so they can choose an account, check the balance, and make the payment."
UK bank NatWest has partnered with Carphone Warehouse to test an online system that allows customers to make instant payments when shopping. The new system, which is being rolled out in the UK, will allow shoppers to pay for goods using their mobile phones and debit cards at a number of stores including Sainsbury's, Asda, Tesco and It has proved popular with customers, who enjoy immediate payments, while retailers benefit from bank-grade security and lower processing fees. NatWest will conduct trials with other retailers, and could even offer the service to customers of rival banks.