FinTech Alliance company Bud has launched an open banking and PSD2 API.
The API will provide an alternative to card payments and bank transfers.
Users will be able to initiate payments directly from their bank accounts.
The technology is currently being trialled with Blockchain.com.
What does this mean?
Bud aims to make sending money more efficient and cost effective through APIs. The service works without having to share card details with third parties. Bud CEO Ed Maslaveckas says that payments will be vital in bringing the true value of open banking.