Paylink Solutions’ year is going from strength-to-strength after being approved by the FCA to add payment initiation services (PISP) to its existing Permissions as an Authorised Payment Institution under PSD2.

Paylink is now authorised to provide a payment initiation service, which will use Open Banking technology to enable individuals to pay companies directly from their bank accounts rather than using debit or credit cards.

Susan Rann, CEO of Paylink Solutions, said: “This is a fantastic achievement and means Paylink can offer a payment initiation software solution for its customers to improve their digital customer payment journey and reduce transaction processing costs. This provides a whole host of new business development opportunities.”

As providing payment initiation services is one of the new permissions supplied as a result of the Open Banking initiative, Paylink had to go through rigorous FCA checks to make sure the relevant procedures and policies are in place to make sure customers are provided with a reliable and secure payment journey.

Susan continued: “I’m so pleased we’ve been approved by the FCA to provide payment services. It opens so many doors for us in terms of being able to provide additional software solutions for new and existing clients and means we can work towards achieving our ambitious plans for growth.”