Westpac NZ to launch online payment option direct from account
Posted on 29-May-2014 09:54.
Filed under: News
Westpac NZ is looking to launch a new online payment option called ‘Direct From Account’ for customers.
When available, Direct From Account will enable customers to purchase goods or services via a merchant’s website and extends the merchant’s reach to customers who do not have, or prefer not to use, a card online.
Westpac is initially partnering with DPS Payment Express (Payment Express) to deliver the new service, which Westpac intends to be available by September this year.
Once a participating merchant has received online payment confirmation through Direct From Account, they will be able to issue an e-receipt and promptly dispatch goods or provide services. This will eliminate the need for the merchant to manually reconcile payments from bank accounts before providing goods or services.
Working with Payment Express means Westpac’s Direct From Account will incur no development effort or integration cost for merchants, provided they are already using the Payment Express platform.
Direct From Account will complement Westpac’s other e-commerce solutions and the bank will look at working with other banks so that they, in turn, can extend this functionality to their customers.