What is Open Banking? And why it’s good news for you.

Tim @ Vibe
September 25, 2019
Open Banking and VibePay

VibePay is built on Open Banking, a set of new government financial regulations which give you more control over your finances.

Open Banking lets you use applications like VibePay to manage your money, payments, and spending more effectively than ever before!

Open Banking x VibePay: upgrading the way we pay

Due to Open Banking, all you need to #GetPaidBack on VibePay is an online bank account – no pesky account numbers or sort codes are required. VibePay allows banks to talk to each other and share information, so you can transfer money directly between accounts.

Open Banking x VibePay: improving money management

Open Banking enables you to allow VibePay to verify when a payment has been made so you can keep track of when you receive payments in real-time – without having to check your bank account.

Open Banking x VibePay: a safer way to pay

With Open Banking you can share your bank account data without handing over your account login details to VibePay. You approve each individual payment made through the app using your own bank’s authorisation security, and you don’t have to worry about getting a debit/credit card skimmed or stolen!

Open Banking x VibePay: it doesn’t matter who you bank with

In the past, the bank you banked with controlled your financial data. Open Banking regulations forced the banks to give you control over who you decide to share information (like sort codes, account numbers and transaction history with), so you can now easily transfer money between any bank using VibePay.

Improve the way you #GetPaidBack and download VibePay today!