OpenPayd Asks


Posted on August 19, 2022
OpenPayd Asks
A semi-regular LinkedIn series on the nuts and bolts of delivering embedded finance infrastructure.
OpenPayd Editorial Team
OpenPayd Editorial Team
August 19, 2022

Embedded finance isn’t complicated. That’s why we set out to create a series of short explainers to explore what we do at OpenPayd and how it adds value to our clients. We call it OpenPayd Asks.

Here we’ve highlighted some of our highlights from the series so far, along with links through to the originals if you’d like to read the full story:

OpenPayd Asks: Why does anyone need a virtual IBAN?

Even at 99% accuracy, that 1% of incorrect or missing payment references is a reconciliation headache.

This is what virtual IBANs address.

With a virtual IBAN, every customer has unique payment details with the company they are making payments to. Because they’re the only ones using those details, any payment to that IBAN is immediately added to their balance with the company.