There is an alternative to card payments and bank transfers, but what is it? So let’s go into the details and see everything there is to know about it.
Often we don’t notice it, but there really are many times we have to put our wallet down to be able to to pay the various goods and services to our liking. From food, to household cleaning products, to electricity and gas bills, in fact, there are countless times we pay money.
If all that wasn’t enough, there’s an evolution of payment terms to choose from, from cash to credit or debit cards or bank transfers. Well, focusing on the latter, it’s good to know that there is another way to make the various payments. But what is it and above all how does it work? So let’s go into the details and see everything there is to know about it.
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Payments, the alternative to cards and bank transfers exists: everything you need to know
Thanks also to the Covid, in recent years we have had to change many of our habits. There is a clear demonstration of this growth recorded by electronic payment instruments, which seems destined not to stop. Indeed, it is precisely in this context that the hypothesis on the basis of which is increasingly broadened coins and notes seem destined to be replaced by digital.
While waiting to find out what the future holds for us, it will be interesting to know that it is already possible to use an alternative payment method to cards and bank transfers. But what is it? Well it’s about account-to-account payments for which there has been a real boom in the last two years. But how do they work?
Payments, how account-to-account payments work
Going into details, it is good to know that the A2A, or theaccount to account, presents itself as an alternative payment tool based on online banking. Thanks to A2A, it is possible to make digital payments from your bank account to that of the beneficiary in a simple and above all safe and fast way.
This includes services such as iDEAL in the Netherlands and MyBank in Italy which allow, in fact, to use this alternative means of payment to cards and bank transfers. But how does it work? Well, from what can be seen on the same MyBank site:
“When shopping or paying online, you will find MyBank on the payment page. Select MyBank, enter the name of your bank and you will be redirected to your online banking service. Connect to your online banking account with your usual access codes. The payment details are displayed pre-filled and it will suffice to confirm the transfer. At the end you will be redirected to the merchant’s site“.
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As it is easy to guess, account-to-account payments therefore make it possible to simplify payment methods, while ensuring the maximum safety and speed. All without having to deal with expensive software that banks are usually forced to use to integrate third-party services.
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