PURCHASE, N.Y.— Mastercard debuted its Pay by Link payments feature at Money 20/20 Europe.
The feature leverages open banking platform Aiia to allow businesses to send their customers a link so they can pay instantly from anywhere, Pymnts.com reported.
“We’re in the process of transforming the way people pay bills. With a simple link, we make it easy and secure to pay a bill on the go with a bank account without having to enter or remember payment details. With Pay by link, we give businesses the opportunity to accept and receive payments anywhere and reduce friction in the entire payment flow,” said Rune Mai, co-founder and CEO of Aiia, a Mastercard company.
‘Bridging the Opportunity Gap’
In a statement, the company added, “The new feature is bridging the opportunity gap between open banking payments and a wide range of businesses. Aiia is enabling broader customization options for its link payments, granting its customers the opportunity to build and brand a fully embedded payment experience.”
The feature is already being rolled out in the Nordic countries and is expected to hit all of Europe during 2022.
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