The Goal To introduce Open Banking as a secure, cost-effective payment method within WisePay, enhancing the overall payment experience for users and aligning with modern financial standards. Overview This roadmap objective focuses on integrating Open Banking into WisePay to offer users a direct bank transfer option alongside traditional card payments. The initiative supports WisePay’s broader strategy to modernise its payment infrastructure and provide flexible, secure, and efficient alternatives for schools and parents. Key Highlights Introduction of Open Banking as an alternative payment method. Secure bank-level authentication for transactions. Reduced transaction fees compared to card payments. Faster settlement times and improved reconciliation. Customer Benefit(s) The addition of Open Banking will: Provide a more secure and streamlined payment experience. Reduce costs for schools by lowering transaction fees. Improve payment reliability and speed , especially for high-value transactions. Offer greater flexibility for parents and guardians when making payments.
