Open Banking payments platform Roqqett has unveiled its frictionless payments solution, Roqqett Pay, at Open Banking Expo UK and Europe today (18 October).
The new “single-click checkout solution” is designed to take users straight through to their bank’s authenticating process on their phone, without the need to upload card details.
According to Roqqett, the solution reduces the checkout time of online purchases, offers businesses instant gross settlements, with lower fees compared to card issuers, and means customers can pay using their banking app.
Paul Stephens, chief commercial officer at Roqqett, said: “I’m thrilled to be launching our game-changing solution at Open Banking Expo this year.
“The current economic climate is particularly harsh on businesses, with operating costs and fees associated with selling products higher than ever before. I believe Roqqett offers all online businesses a lifeline, with lower fees and a faster and simpler customer experience that helps to convert sales.”
Roqqett Pay has launched with its first customer, multi-currency card provider FairFX, enabling FairFX cardholders to instantly top up their card using their banking app.
Jack Mitchell, director at FairFX, added: “When it comes to moving money, the top priorities for customers are security and speed. Roqqett offers our customers both of these.
“As a solution, it’s been easy to integrate to our application, with just a few lines of code. We’re both saving money, with much lower transaction fees, and enhancing our customer experience – it’s a clear win-win.”
Roqqett was founded in 2020 and was acquired by the Equals Group in November 2022.
