CredDec (Business payments without logging into banks using Open Banking)

CredDec (Business payments without logging into banks using Open Banking)
Use Case:
Description:

CredDec integrates companies’ shared online bank accounts with accounting and payroll applications.

This allows accountants/business owners to make payments (tax, payroll, supplier payments, etc.),from within third-party applications, e.g. from XERO, without having to access their businesses bank account.

The company has incorporated Open Banking Payment Initiation Services (PIS) to this process, thus, changing the centre of payments activity from internet banking platforms to accounting/payroll platforms.

Phase:
Live
Industry:
Payments
Niche:
Payments and accounting management