Papa John's collaborates with TrueLayer for Bank Transfer Payments
Papa Johns, the popular pizza chain, has announced a new payment option for its customers: Pay by Bank. This revolutionary method, supported by TrueLayer's Open Banking technology, promises to offer a frictionless, secure, and more cost-effective way to pay for pizza deliveries.
Emlyn Miftari, commercial lead at TrueLayer, expressed excitement about supporting Papa Johns in changing how customers pay. "Pay by Bank aligns with modern consumer expectations," Miftari said. "It offers a smooth and trusted checkout experience that reduces friction, leading to higher basket conversions and less cart abandonment for merchants like Papa Johns."
Customers can now pay directly from their bank accounts, with authentication often occurring through biometrics verification within users' banking apps. This method eliminates the need for customers to enter card details at checkout, enhancing security and offering a frictionless, transparent payment experience that builds trust and encourages repeat business.
Eamon Lindsell, senior product manager for digital technology at Papa Johns, stated that the company is always looking for ways to enhance its customers' experience. "The enhancement includes better ingredients and better technology, as shown by the adoption of Pay by Bank," Lindsell said.
The advantages of the Pay by Bank payment method for merchants, specifically when using TrueLayer's Open Banking technology, include increased sales and higher conversion rates, reduced fraud and liability shift, faster payment processing and improved cash flow, enhanced customer trust and convenience, easy integration and omnichannel availability, and competitive differentiation.
Quick fund settlement is another advantage for merchants using the Open Banking payment method. Payments are made in real time or near-real time, providing merchants with quicker access to funds compared to card transactions, simplifying cash flow management and payment reconciliation.
Thousands of orders have already been processed using Papa Johns' Pay by Bank option. This reduction in fraud risk, coupled with the near-elimination of online fraud risk, while the fraud liability shifts to the customer’s bank, results in fewer chargebacks and losses for merchants.
BR-DGE has also teamed up with TrueLayer to add Pay by Bank as a payment option. This partnership is set to further expand the reach of this innovative payment method, offering customers a secure and convenient way to pay for their purchases across multiple platforms.
Papa Johns' Pay by Bank option is now available for customers across the US. This revolutionary shift in payments in ecommerce and food and beverage sectors is poised to redefine the way customers pay for their favourite meals, offering a seamless and secure payment experience that caters to evolving consumer preferences for secure, fast, and convenient payments.
[1] Increased sales and higher conversion rates: [URL] [2] Reduced fraud and liability shift: [URL] [3] Faster payment processing and improved cash flow: [URL] [4] Enhanced customer trust and convenience: [URL] [5] Easy integration and omnichannel availability: [URL] [6] Competitive differentiation: [URL]
- Papa Johns' adoption of Pay by Bank, supported by TrueLayer's Open Banking technology, is expected to lead to increased sales and higher conversion rates for the business. (Faster payment processing and improved cash flow)
- By using Pay by Bank, customers can enjoy a more secure payment experience, as authentication often occurs through biometrics verification and the fraud liability shifts to the customer’s bank. (Reduced fraud and liability shift)
- The Pay by Bank option, when utilized with TrueLayer's Open Banking technology, enables merchants like Papa Johns to process payments in real time or near-real time, enhancing cash flow management and payment reconciliation. (Quick fund settlement)
- Offering Pay by Bank as a payment option fosters customer trust and convenience, providing businesses with a competitive edge in the technology-driven market. (Enhanced customer trust and convenience)
