Customers can now use Payit™ by NatWest to make a payment/a fund deposit online through the ii website and app.

Powered by open banking technology through payments initiation and Account Information Services (AIS), Payit™ by NatWest provides investors with an additional digital payment method to be able to manage their investments in a safe and simple way.

Payit™ by NatWest offers Account Information Services to provide a simple and safe way for people to share information straight from their banking app.

This means that ii investors can link their bank account and enjoy one click digital payments into their ISA, GIA or SIPP with reduced friction caused by the need for a card and One Time Passcodes.

The use of Strong Customer Authentication to prove the account is live and accessible and means sharing account information digitally, in real time also removes the risk of manual error.

The option is available to all ii customers with a bank account with access to online banking or a mobile banking app.

James Hodgson, CEO of Payit™ by NatWest, comments:

“We are delighted to be helping interactive investor leverage the benefits of open banking through Payit to streamline and simplify the online experience for their investors. Payit’s safe and secure platform provides a flexible and seamless way for people to make payments directly from their bank accounts and it’s possible with minimal IT integration or disruption. Timing can be an important factor when making investments, so moving funds immediately in real time will improve the experience for many ii customers.”

John Dobson, Head of Investment Solutions at interactive investor, comments: “We are delighted to be partnering with Payit by NatWest and welcome its launch on our platform. At interactive investor, we’re constantly innovating and developing solutions to ensure our investors have a smooth journey on our platform, and Payit is a fantastic addition here. It’s a straightforward, efficient, and secure service – one that will make life easier for many of our customers.”

Payit™ by NatWest offers key benefits to businesses and their customers, including:

• Speed: Payit™ directly opens the customer’s banking app of choice and allows them to select the appropriate bank account to pay with. Transactions are completed quickly and securely and businesses receive funds immediately.

• Simple and secure: As there is no need for card details to be stored by a third party, the risk of online fraud is minimised, allowing both the business and customer peace of mind.

• Cash flow management: Instant availability of funds is essential for businesses managing cash flow.

• Reduced transaction costs for the business.