EVERYWARE AND MX TO DELIVER REAL-TIME PAYMENTS AND OPEN BANKING WITH PAY-BY-TEXT
Everyware, a leading contactless payments, and customer engagement solutions company, announces the expansion of its Pay By Text options by offering real-time payments (RTP) and its open banking approach to financial data.
The RTP and open banking experience, along with security enhancements, are made possible through Everyware’s partnership with MX, the leader in Open Finance. Combining an open banking approach with RTP modernizes the customer relationship and enables better digital access to financial services and data.
Real-time payments enable instant, around-the-clock electronic payments, transferring funds from one bank to another. Paired with open banking best practices, which create a two-way information exchange between personal financial data and connected services, Everyware and MX’s partnership forms direct access to share information both ways. It provides extremely fast, convenient, and safe payments at the consumer’s discretion.
In 2020, more than 70.3 billion real-time payment transactions were processed globally, an increase of 41 percent over the prior year (ACI Worldwide). Open Banking and RTP mean consumers have control over their information and how they want to share it. They can easily pay merchants by text message, with the guarantee that funds are available and instantly transferred.
“We are the only contactless payments company to deliver the RTP payment option, and offer RTP payments to remove a significant level of risk with verified accounts and sufficient balance checks,”
“Together with MX, we’re enabling a convenient, instant, and secure payment experience for our customers.”
Larry Talley, Founder and CEO Everyware.
With the Everyware and MX integration, merchants can easily send secure invoices by text message, which can be paid through an MX-verified bank account containing a confirmed account balance sufficient to cover the payment amount. While maintaining security is the highest priority for Everyware, MX also enhances the Everyware RTP payment experience by enabling customers to quickly look up and connect their bank accounts without having to leave the payment screen. For consumers and merchants, Open Banking and RTP are making payments easy and secure.
“Everyware is a great example of how a seamless account connecting user experience can be powered with our open finance platform,”
“Open Banking involves building a more connected, frictionless, and secure financial ecosystem and we’re proud to team up with Everyware in that mission.”
Brett Allred, Chief Product Officer, MX.