PayPoint named open banking supplier to UK central and local government.
In brief:
- Digital payments expert PayPoint today reveals it been named as a supplier on the Crown Commercial Service’s (CCS) Open Banking Dynamic Purchasing System (DPS) framework, used by all public sector buyers seeking official suppliers of Open Banking services.
- PayPoint has experienced rapid growth of its Open Banking services since its £3mn investment in OBConnect, a leading Open Banking 'Software as a Service' (SaaS) business in 2022.
- It has since launched numerous Open Banking products, including Confirmation of Payee (CoP), Payer Name Verification (PNV) and Account Information Services (AIS) solutions.
What does this mean?
Jo Toolan, Managing Director of Client Services, PayPoint said: “Today marks an important moment in the continued growth of our Open Banking offering. PayPoint already works with a number of government departments, but being on the DPS framework gives us more visibility among potential buyers and will help us to showcase how transformative and bespoke our Open Banking partnerships really are.
