One of the challenges to wider use of pay-by-bank services is that making account servicing payment service providers liable for transactions with limited data leads to large numbers of transactions being declined.
“If transactional risk indicators were mandated, then these service providers would have more data to make decisions on,” says David Parker, chief executive at Polymath Consulting.
There is a need for education of both consumers and banks where misconceptions persist or there is a general lack of awareness
Lena Hacklöer, Brite Payments
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