Utilita, the UK-based pay-as-you-go energy supplier, is rolling out ‘Payit’, the open banking payments solution from NatWest.
Through the launch of Pay by Bank from Payit by NatWest as a payment option on its platform, Utilita is enabling its customers to instantly add funds to their smart meter or wallet through the My Utilita app.
Over 800,000 households currently use Utilita’s services. The integration of the Payit service from NatWest comes as part of its mission to offer consumers better service and a fairer deal.
Powered by open banking technology through payments initiation, Payit by NatWest provides customers with an additional digital payment method to be able to manage their energy payments safely and securely. This means that Utilita customers can link their bank account and experience one-click payments – without the friction caused by the need for card numbers or One Time Passcodes (OTPs).
The use of strong customer authentication to prove the account is live and accessible and means sharing account information digitally, in real time, also removes the risk of manual error.
“We are delighted to be helping Utilita leverage the benefits of open banking through Payit to streamline and simplify making and collecting payments,” explained James Hodgson, CEO of Payit by NatWest. “Payit’s safe and secure platform provides a flexible and seamless way for people to make payments directly from their bank accounts and also for businesses to improve their operational costs.”
The option is available to all Utilita customers using the My Utilita app with a bank account with access to online banking or a mobile banking app.
Adopting Pay by Bank
Payit by NatWest boasts instant availability of funds, an essential feature for businesses managing cash flow. The open banking powered payment method also directly opens the customer’s banking app of choice and enables them to select the appropriate bank account to pay with. As no third parties store card details, Payit minimises the risk of online fraud, offering both the business and customer peace of mind.
Bill Bullen, founder and CEO of Utilita, also commented: “At Utilita, we’re constantly innovating and developing solutions to ensure our customers have a smooth journey on our award-winning My Utilita app, and Payit is a fantastic addition here.
“With Payit, our customers can make secure, fast payments directly from their bank account, via mobile banking. The added security afforded by open banking technology massively reduces the risk of sensitive information, such as card details, falling into the wrong hands. Payit offers an efficient and secure service – one that will make life easier for many of our customers.”
