With the integration of Bottomline Technologies’ solution, GPS’s platform includes a new set of payment rails, giving customers the ability to make same-day faster payments and have direct debits collected from card accounts.
Over two million residents of the UK are either unbanked or underbanked, having limited access to traditional banking services for managing money and paying bills. These people have come to rely on card accounts as a substitute.
In addition, many consumers are using cards alongside traditional bank services because of rebates and discounts which they offer. In the UK alone, an estimated USD 31 billlion is transacted through non-traditional cards each year.
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