Nodapay is a payment platform that belongs to Open Banking services. It works perfectly to solve a variety of issues. It is possible to manage personal finances with it or use it for e-commerce purposes.Being at the forefront of modern technologies, the platform features good API connectivity, easy access to Open Banking and effortless payment processing, available in real time. The system works as an alternative to bank cards and allows direct payments to e-customers through Open Banking.
The company behind the platform was founded in 2021 by Anastasia Tenca, who takes the position of COO at the company currently, and Paul Taylor, CEO. The main goal of the platform is to help companies to economize their hard-earned money on transactions.
What is Open Banking
Open Banking was borrowed from the banks’ practice, when financial institutions shared financial data with third parties, which were invited to provide different services on the platform. Their goal was, for instance, to collect users’ data to make marketing conclusions and improve customer experience. Fintech companies involved previously in this activity don’t need banks any longer to contant end users. They can use this technology to develop their services and serve customers directly delivering services that were, previously, delivered by banks. Large banks are not the only players in the market any longer, so customers’ data is not controlled by them as before.
The best thing about the service is the lack of middlemen, charging high fees for their services. Using Open Banking, all payments are conducted between two parties i.e. between the customer and seller. It helps to make transactions much cheaper and commodities more affordable to consumers. In this way, both parties leverage from this offer. There are some drawbacks though as not all customers feel safe when dealing with open banking services. They seem not so trustworthy for them, compared to banks. However, these perceptions go away with time. Nodapay is one of the services that contributes to mass adoption of such services.
Nodapay allows users to bypass costly intermediary services, thus alleviating online payments. Merchants highly assess the service for optimal success rate of payments. Noda offers high transaction speed, affordable fees, and fintech apps on the basis of open banking for end users. This is an excellent option for end users who get access to instant payment methods that operate in all countries of Europe and GB.
Noda offers merchants to become providers of open banking service within a day. The platform assures that this is a perfect addition to a diversified financial landscape. Merchants can only benefit from using Nodapay since they don’t waste resources and time to integrate the service or onboard a certain payment system.
The NPM package delivered by Noda allows businesses to control payment flow on the back-end website.
How to connect to the service
They can just connect a new payment option to their resource via the ready-made gateways at a low fee without compromising technical performance. The integration of the Nodapay button is incredibly easy. Companies should use the NPM package to integrate the system and follow the instructions that are provided by the system. It usually takes several minutes to implement the procedure.