ABN AMRO says it will introduce a new streamlined product, ID & pay, an app that replaces cumbersome onboarding and payment processes with a single online identification and payment functionality within the bank’s own secure environment.
In a pilot partnership, the bank and Swapfiets, bicycle as a service business, are working together to offer new and existing customers a way to sign up and pay for their Swapfiets membership in a matter of seconds, making the onboarding and payment process vastly more efficient.
ID & pay, developed by ABN AMRO, allows users to store their ID securely and also make payments in a single app.
“ID & pay originated from a need we identified among our business clients. A need to offer their customers a much simpler onboarding and payment process,” says Edwin van Bommel, Chief Strategy & Innovation Officer at ABN AMRO.
“This app beats every other onboarding process in the market as an easy-to-use way for customers to provide ID and pay for products and services. It’s unique in Europe.”
More and more service providers require their users to go through an onboarding process. In some cases the process takes a long time and can put users off.
With ID & pay, you create an account once and can then keep using it for any affiliated service providers. The functionality is like having a Google login combined with PayPal, but then within ABN AMRO’s secure environment.
This means the user’s privacy is also protected, with the personal data they have provided and the payments they have made all shown in one convenient app.
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