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Payit™
Royal Bank of Scotlands's open banking solution
Collecting payments
Payit allows you to collect money from your customers, online or in-person, without needing to know or store their card details.
It’s an alternative to current payment methods, and helps your customers make quick and easy payments to you.
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Sending payments or refunds
Payit allows you to send money directly to your customers’ bank accounts, without needing to know or store their account details.
It helps you reduce cheque issuance and bank transfers.
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Account Information Service
Payit’s AIS solution, powered by Open Banking, enables businesses to securely access and validate customer bank data in real time—streamlining processes, reducing fraud, and improving the customer experience.
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Recurring payment
Payit enables you to set up recurring payments securely and quickly.
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You will need to sign up to Payit terms and conditions and you may need to hold an account with us. Your business must be based and trading in the UK with a turnover above £2M. You must be 18 years or older. Fees are based on the volume and average value of transactions. Speak to a Royal Bank of Scotland Relationship Manager (where relevant) for further information, or contact us.
What happens next?
Interactive Investor
With over half a million customers, Interactive Investor (ii) knows a thing or two about delivering service. So, when they wanted a new way for their customers to fund their portfolios, the UK’s largest, flat-fee investor platform came to Payit.
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JS Group
Through the use of the Payit API solution, JS Group has developed Aspire Cash, resulting in a better payment experience for University students, reduced administrative costs and improved understanding of how cash awards are used by students. Accessing funds securely and quickly has helped students cope during the current cost of living pressures.
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Salad
Salad – the innovative short-term lender – has teamed with Payit™ to transform how their loans are repaid and smooth the consumer experience.
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Support for high growth businesses
We’ve got a range of products, specialist support and information for high growth businesses. Building on our years of expertise in helping businesses to grow, our tailored support could be just what you need to take you to the next level. So whether you’re an ambitious business scaling up, an established business with fast growth, or even a new businesses growing quickly, we’re here for you.