Opaay has replaced the traditional card payment gateways with an Open Banking payment gateway. (The company also white labels this payment gateway as a SaaS product).
They enable a direct connection of ecommerce systems (including government e-commerce) to shoppers' accounts for Payment Initiation Services.
According to the company, this has birthed the following benefits:
Up to 90% savings on merchant fees.
Instant settling of funds from ecommerce and epos systems.
No cards or account details captured hence secure.
Elimination of fees towards setup, cancellations, failures or chargebacks.
Automated direct payments.