_{What is Pay by Account? Its the next disruptor in online payments. No payment credentials stored online, just a link and a click, a token is sent, a code verfies your payments via SMS. Click your'e done!}

 How does PBA work?

Pay by Account (PBA) is a secure and convenient payment method that offers several benefits, including eliminating fraud and reducing friction for customers:

1. Enhanced Security: When customers choose the Pay by Account option, they sign into their banking app, which adds multiple layers of security to the transaction. These layers may include passcode or biometric login on the phone and password, two-factor authentication, or biometric authentication required by the bank. This multi-step authentication process significantly reduces the risk of fraud compared to traditional credit card payments.

2. Protection for Consumers: Pay by bank adds a strong security shield for consumers. With the authentication steps involved, it becomes much more challenging for scammers to crack the security system. This protects customers from unauthorized transactions and potential identity theft.

3. Protection for Merchants: Merchants also benefit from the added security of Pay by Account. Since the payment is made directly from the customer's checking account, there is a reduced risk of chargebacks and fraudulent transactions. This helps businesses avoid financial losses associated with credit card chargebacks.

4. Frictionless Experience:Pay by Account offers a seamless and familiar payment experience for customers. Most people are already comfortable using their mobile banking apps, making the authentication process straightforward. There's no need for customers to enter credit card numbers or create additional accounts, which can be cumbersome with other payment methods.

5. Reduced Checkout Friction:Unlike traditional payments where customers may need to physically locate their credit cards or remember card numbers, Pay by Account streamlines the process. Customers can complete the payment directly from their mobile banking app, reducing the potential for errors and making the checkout process faster and more efficient.

6. Compatibility:Pay by Account leverages technology that is widely adopted and supported by various banks and financial institutions. This compatibility ensures that a broad range of customers can utilize this payment method without facing compatibility issues.

In summary, Pay by Account not only enhances security by leveraging the security features of mobile devices and banking apps but also provides a smoother and more convenient payment experience for both consumers and merchants. This combination of security and convenience makes it an attractive option for modern payment transactions.