European payment provider Worldline on Monday (Sept. 27) introduced WL Account-Based Payments, an open banking account-to-account (A2A) payment program that lets online businesses launch a custom-branded payment method.
WL Account-Based Payment allows third parties to access consumer banking information and includes custom branding, instant settlement notifications and more. Worldline’s solution can be accessed through a single API and gives businesses access to 20 European countries and the U.K.
Worldline will add QR code payments with one-click refunds and recurring payments setup at checkout to the WL Account-Based Payment platform later this year. The initiative will launch in Europe before expanding into Asia and Latin America.
“WL Account-Based Payments gives you more control over all aspects of the payment process. Custom branding, instant settlement notification and lower fees are just some benefits of this open banking product,” Worldline Head of Product Management Digital Commerce Eline Blomme said in the company announcement.
“We are currently developing the solution for some big household names and are excited to see the momentum building around open banking and what it can deliver for our customers and the digital commerce ecosystem,” she said.
Last month, Worldline and crypto finance and technology pioneer Bitcoin Suisse teamed up to open cryptocurrencies as a means of payment for goods and services in Switzerland.
The integrated service, called WL Crypto Payments, was first announced in November 2019, and was followed by a pilot program conducted by the two companies. The service will support the expansion of crypto adoption at the point-of-sale (POS) and eCommerce gateways in Switzerland for Worldline’s network of more than 85,000 Swiss merchants.
Business owners can accept bitcoin and Ethereum as a payment option, paid through clients’ mobile-crypto-wallet application. Clients have the option to convert the merchant-listed price from Swiss franc to one of the virtual currencies and the merchant will receive an instant confirmation when the crypto payment is made.