Neonomics launches Open Banking-powered Checkout in Finland

By Gloria Methri

Neonomics has expanded the launch of its new open banking-powered Checkout solution to Finland. The solution provides seamless account-to-account payments via a front-end user interface enabling higher conversion rates than card payments at a lower cost.

“Our new Checkout product is truly what’s going to take open banking to the next level,” said Nils Christian Roscher-Nielsen, Head of Product at Neonomics. “Now any business can easily leverage open banking in their payment experience by simply adding it to your payment options using just a few lines of code. Our focus with this product was to keep all the benefits of open banking; security, and low cost and combine it with the ultimate design-driven user experience. This will be a game changer for businesses and end-users.”

According to Neonomics, businesses are increasingly turning to open banking payments to escape exorbitant card fees. However, the complex integration and inefficient user interfaces of early iterations have slowed adoption. Neonomics Checkout aims to resolve these issues by providing an easy-to-use plug-and-play product that is swift to implement, maintenance-free, and fast for users.

Ecommerce providers and their customers can take advantage of the benefits account-to-account payments have to offer – including lower transaction costs, fewer intermediaries, faster settlement, and tighter security than other leading forms of payments.

Founded and headquartered in Oslo, Norway in 2017, Neonomics is authorized by the Norwegian FSA as a licensed payment institution. It delivers payment initiation and account information services to a wide range of customers spanning FinTechs, payment service providers, banks, and more. The open banking disruptor unifies access to over 2500 banks and 150 million bank customers across Europe via a secure and cost-efficient pure PSD2 API platform.