Volume secures FCA authorisation

Volume has secured official FCA authorization, a move that signals a shift toward cheaper, faster payment alternatives for retailers. For business owners, this means more reliable access to Open Banking tools that bypass traditional card networks like Visa and Mastercard. Instead of paying high percentage-based swipe fees, merchants can use these 'bank rail' payments to settle transactions instantly and at a fraction of the cost. This authorization is critical because it proves the technology meets strict regulatory standards for security and consumer protection. For retailers, this translates to fewer chargebacks and better cash flow since funds move directly from the customer’s bank account to yours. As credit costs rise, offering a seamless 'Pay by Bank' option serves as a strategic alternative to traditional consumer financing or high-interest credit cards. It streamlines the checkout process, especially for high-ticket items where card fees usually eat into thin margins. Expect to see these transparent, account-to-account payment methods become a standard fixture at digital checkouts alongside BNPL and traditional credit.

Source: Finextra — Lending

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