Noda introduces Pay & Go: an orchestration platform for registration, KYC, and payment processing

LONDON, England, October 23, 2024 (Newswire.com) - Noda, a leading provider of open banking, is thrilled to introduce Pay & Go, a solution designed to streamline the user journey for merchants who require registration, KYC verification, and payment processing. Pay & Go simplifies this entire process into one seamless flow, helping merchants significantly boost their sign-up conversion rates. By enabling users to complete registration, verify their identity, and make their first payment in a single uninterrupted experience, Pay & Go not only optimises merchant acquisition strategies but also enhances the overall user experience, making onboarding faster, smoother, and more efficient than ever before.

Game-changer for user onboarding

“Acquiring new users today is an expensive process. Losing even a single paid user can have long-term impacts on business metrics, while successfully converting paid and organic traffic into active users can yield positive outcomes. Pay & Go helps increase conversion rates by ensuring that leads become active users, without dropping off during any stage of the registration process. This allows merchants to fully leverage the potential of their user acquisition efforts. It’s especially important for industries where identity verification is a mandatory part of the user registration” — explains Konstantin Khvorostianoi, Chief Product Officer.

Key benefits of Pay & Go for merchants

• Boost conversion rates with ultra-fast onboarding: Pay & Go significantly increases conversion rates by reducing the friction traditionally associated with registration and KYC processes. Users can sign up, verify their identity, and make their first payment in one go, resulting in higher registration and payment completion rates.
• Smooth user verification: By integrating directly with banks, Pay & Go allows users to pass verification without needing to upload documents manually. The user data is automatically verified through our trusted third-party KYC partners, GBG and Sumsub, ensuring accuracy and compliance while enhancing UX.
• Enable instant refunds and payouts: Once a user is registered through Pay & Go, merchants can instantly process refunds and payouts, thanks to verified personal details and bank account ownership. This ensures seamless and secure transactions, providing customers with a frictionless experience.

How Pay & Go works

Integrating Pay & Go is simple. Merchants just need to add the Pay & Go button to their website or app. When a user clicks the button, they follow a straightforward Noda payment process through their bank.

The bank then shares the user's verified personal information with Noda, which is further validated by KYC providers GBG and Sumsub. Within seconds, the user is registered, verified, and ready to make their first payment—all within a single flow.

Transforming UX with instant payouts

One of Pay & Go’s standout features is the ability to process instant refunds and payouts. Since user data is verified directly with the bank during registration, merchants can be confident in the bank account ownership and user identity, allowing for quick and seamless transfers between bank accounts. No delays, no extra steps—just instant, reliable transactions that improve user satisfaction.

Source: Noda