Banking as a service, Member Exclusive

BBVA’s banking as a service platform launches real time payments

  • BBVA's banking as a service clients now have access to real time payments.
  • Open Platform's new capabilities are powered by Visa Direct.
close

Email a Friend

BBVA’s banking as a service platform launches real time payments

BBVA’s banking as a service offering in the U.S., Open Platform has launched a real-time payments service.

What’s going on: BBVA’s Open Platform uses APIs to let firms build their own financial products without having to get a banking license.

  • This latest feature gives BBVA clients the option to offer frictionless, real-time payments to and from eligible debit cards.
  • The API supports ACH, digital bill pay, and real-time push and pull payments to and from debit and prepaid cards, through a single endpoint.
  • The new API service allows enterprises to transfer money in real time from a mobile device.
  • Additional resources: BBVA — The BaaS willing to collaborate; On Open Platform, BBVA’s banking as a service offering

SPONSORED

BBVA’s Open Platform’s real time payments are based on Visa Direct, the payments company’s push payments offering.

Some of the first companies to launch real time payments on the BBVA open banking platform are business bank Wise and Tuvoli, a B2B marketplace for private aviation.

  • Wise uses real time payments to give its customers the ability to fund their accounts and onboard to Wise’s tools and services in real time, without waiting days or weeks to keep growing their business.
  • Tuvoli enables the companies in its ecosystem to make end-to-end payments, 24 hours a day, 365 days of the year.

“BBVA Open Platform has always been committed to the democratization of financial services, and the Move Money API is a prime example of that philosophy,” said Susan French, svp, head of product and client pperations at BBVA Open Platform.

“We’re proud to partner with Visa Direct to add even more features and flexibility for the businesses who use our services.”

0 comments on “BBVA’s banking as a service platform launches real time payments”

Outlier OpinionsMakers

Member Exclusive

‘$130 trillion of global B2B trade is coming online’: Balance looks to digitize payments for B2B ecommerce

  • Balance claims it’s the first ecommerce payments platform that’s custom-built for B2B merchants and marketplaces.
  • The firm aims to facilitate the digitization of B2B trade through its payments infrastructure.
Ismail Umar | September 16, 2021
Member Exclusive

Incumbents take the pedal off ad spending to compete with fintechs

  • Banks and insurance companies are redistributing their ad spend budget to technology and innovation to compete with challengers.
  • Insurance companies will account for 45.6% of the industry’s ad spend.
Shehzil Zahid | September 09, 2021
Member Exclusive

How rooting its customer experience in hotels and airfare enables Sunbit to make an impact

  • Sunbit is a buy now, pay later solution that's making a name for itself in the service industry market.
  • Sunbit’s customer experience mantra centers on flexibility, making it easy and doing it with a smile.
Shehzil Zahid | September 07, 2021
Member Exclusive

Accessibility in banking: how finance actually fares when it comes to catering to customers with disabilities

  • Financial institutions are legally required to be ADA compliant but many are not.
  • Accessibility consultants say institutions need to do a better job of listening and responding to customers with disabilities.
Shehzil Zahid | September 03, 2021
Member Exclusive

Consumers are looking to better their financial health

  • Covid is causing people to reevaluate their financial health. Adulthood is causing millennials to reevaluate their financial choices.
  • Consumers’ interest in improving their finances is growing, and that could present new marketing opportunities for financial service providers.
Rivka Abramson | September 01, 2021
More Articles