Faster, more secure transactions enabled by Payit's collaboration with NatWest

PayitTM, a NatWest-backed Open Banking solution, has partnered with Prommt to bridge the gap between traditional fiat currencies and digital assets on a global scale. This collaboration, which has already made an impact in the automotive sector, is expected to expand beyond the UK and transform high-value commerce across various industries.

The partnership between PayitTM and Prommt offers a seamless, branded digital alternative to manual bank transfers. Prommt's real-time notifications and automated reconciliation are key features that streamline commercial transactions, enabling businesses to fulfil orders more quickly.

One of the leading UK dealership groups with 22 locations has already adopted the joint solution for managing payments across sales, service, and parts. This adoption of Open Banking by PayitTM, powered by Prommt, is accelerating, with the partnership poised to revolutionize high-value commerce in sectors beyond automotive, including hospitality and retail.

The impact of this partnership is not confined to the UK. It is expected to redefine commercial transactions across multiple industries on a global scale. The expansion of the PayitTM and Prommt partnership is anticipated to significantly impact high-value commerce across various sectors and geographies.

In addition to the partnership with Prommt, NatWest has partnered with Traxpay and Taulia to develop an Open Banking solution for fast, secure, and cost-effective business payments. This solution, successfully used in the automotive industry, is another testament to NatWest's commitment to driving innovation in the financial sector.

PayitTM provides instant bank-to-bank payments with immediate confirmation of funds. This feature, combined with the partnership with Prommt, enables businesses to collect payments without requiring bank or card details, offering a more efficient and secure payment process.

The partnership between PayitTM and Prommt is designed to facilitate transactions between fiat and digital assets globally. As the world continues to digitalize, this partnership is set to play a crucial role in shaping the future of commerce.