Interchecks and Mastercard partner to advance A2A payments through Open Finance

Source: Mastercard

Interchecks and Mastercard have announced a strategic partnership that brings together Interchecks’ Pay by Bank solution with Mastercard’s Open Finance capabilities to enhance choice and efficiency of account-to-account (A2A) payments. The collaboration reflects Interchecks’ continued growth beyond its gaming roots and its commitment to advancing Pay by Bank as a trusted, scalable option for businesses and consumers across industries.

“At Interchecks, our focus has always been on building payment solutions that are fast, secure, and tailored to the real needs of businesses and their customers,” said Dylan Massey, co-founder and chief executive officer of Interchecks.

“Partnering with Mastercard Open Finance represents another step forward in that mission — aligning with a trusted network to make paying directly from a bank account even simpler and more secure.”

Expanding Pay by Bank capabilities

As consumers seek more flexibility in how they pay, Mastercard is working with partners like Interchecks on its Pay by Bank solution, which leverages Open Banking technology to simplify recurring and high-volume payments made via ACH while including fraud prevention and verification solutions.

Through this partnership, Interchecks will leverage Mastercard’s Open Finance verification tools and network reach to expand the accessibility of Pay by Bank across new markets and use cases. The collaboration addresses key payment challenges: reducing churn from failed subscription payments, providing faster and more flexible account funding options, and improving recurring bill pay experiences for businesses and consumers.

Industry applications

Together, Interchecks and Mastercard aim to make A2A payments more accessible across industries such as brokerage funding, subscription payments, and insurance, where speed, cost efficiency, and consumer choice are key.

Enterprise SaaS
Pay by Bank offers subscription business a way to elevate the checkout experience using the consumer’s existing authentication protocols with their bank to retrieve all necessary information to execute recurring payments. The insights from bank-authenticated data can protects consumers and merchants by helping ensure payments are made in a timely manner and reduces the risk of transaction fees for insufficient balances.

Banks, neobanks and fintechs
Remove friction from customer onboarding with faster, more flexible account funding options that improve authentication rates and funding success.

Telecom, utilities and bill pay
Pay by Bank provides a stable payment method for non-discretionary recurring payments, reducing failed transactions and using insights to make payments based on the biller’s historical transaction behaviour and account balance.

Further reading: Mastercard launches Open Finance Business Solutions for Australian SMEs