Payment Rails
Payment rails refer to the infrastructure and networks that facilitate the transfer of funds between parties. These include traditional systems like SWIFT and ACH, as well as modern alternatives like Faster Payments and blockchain networks. As a PSP, Modulr provides access to multiple payment rails, including Faster Payments, BACS, and SEPA, enabling efficient domestic and cross-border transactions.
Applications
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
Advantages
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
Challenges
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
