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DIMOCO and SignD launch instant banking-based payment method for online shops

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Payment Service Provider (PSP) DIMOCO and SignD, a provider of PSD2 technologies, have  joined forces to offer what they call an “unparalleled payment solution” as a joint Payments Initiation Service Provider (PISP), enabling online merchants to execute payment transactions with a fully customizable white label solution.

Practically everyone in the EU has a bank account, therefore, a bank transfer is one of the most common payment methods available and outscores credit card penetration by far. An Open Banking PISP initiates and executes an instant payment transaction on behalf of an online merchant at an unparallel convenience and safety level for both online retailers and customers alike.

PSD2 allows regulated Payment Initiation Service Providers to initiate payments straight from customers’ bank accounts, enabling customers to make instant payments directly through the website they are currently using.

Safe and seamless

The UX is unparalleled, shoppers can not only pay instantly via their bank account without leaving the online shops’ websites, the online merchant can also individually brand the payment option.

“A consistent user flow unlocks higher conversions and more revenue, online shops cannot grow profitably and stand out from the competition if the entire purchasing process is not optimized for conversion,” says David Müller-Ratajczak, Head of Sales & Marketing at DIMOCO Payment Services.

“Low costs and fraud risks, no chargebacks and an instant settlement process is a turnkey solution, all made possible by the integration of a simple SDK into mobile apps or an adaptable widget for websites,” says Bernhard Reiterer, Founder & CEO of SignD, adding, “merchant fees are considerably lower since fewer parties are involved and therefore I am confident that our solution stands the test of time.”

The bank independent solution connects to 90 percent of banks in D-A-CH, 80 percent of banks in the EU through more than 8000 bank APIs.

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