SIPAY partners with INESPAY to offer their payment method Bank Transfer PSD2

Inespay Financial Technologies is a Spanish Payment Entity licensed and supervised by the Bank of Spain that provides Payment Initiation Services in accordance with the new PSD2 Payment Services Directive. Online businesses that work with Sipay can now offer PSD2 Bank Transfer as an option for customers on their payment page. PSD2 Bank Transfer redirects the buyer to their bank to authenticate and authorise a transfer in real-time. In turn, the business receives confirmation of payment instantly in order to release the order without delay.

According to a Sipay representative, the collaboration with INESPAY enhances their offer by including a regulated payment initiation service in their payment method catalogue. An INESPAY representative states that anyone who has Online Banking with their usual bank may be redirected to their bank to authorise a payment by bank transfer, meaning that merchants can see an increased conversion on high-value tickets, and consumers will be able to pay with their bank account balance securely.