Tags Open Banking Payments
Ameriabank has teamed up with Drops LLC to develop the new Drops application, which allows for automated payments to be made using a payment card. The Drops application works by charging user payment cards the amount due and then transferring the funds to operators. This allows users to manage all their regular payments via a smartphone or other such device. The application also allows users to change payment frequency and discontinue future payments at any time.
At launch, Drops will enable users to make payments for insurance, tuition fees, swimming pools and travel, with more services being continuously added. Security for the online transactions will be provided by VbV (Verified by VISA) and Secure Code technologies.