Lloyds Bank’s API payment solution signs first retailer

A car dealer group has become the first retailer to use Lloyds Bank’s PayFrom Bank payment product to allow customers to make online purchases without the need to input card details.

JCT600 said that the new functionality forms part of its ‘Buy Online’ offering, which enables customers to browse, reserve and buy a vehicle online, without visiting a dealership.

Lloyds’ PayFrom Bank is an account-to-account payment solution and is one of a number of payment API solutions offered by Lloyds.

PayFrom Bank means that customers of JCT600 can use their own online banking service to make a payment, and the purchase amount, reference, and JCT600 account details are all automatically populated.

Andy Bateman, director of customer experience at JCT600, said: “PayFrom Bank is the perfect option for buyers looking for a safe, convenient, secure way to purchase their next car or van.

“It’s great to be working with Lloyds on new technology like this, and we’re excited to see our customers taking advantage of PayFrom Bank when choosing their next vehicle.”

Steve Everett, managing director payables and receivables at Lloyds Bank, added: “Lloyds Bank are delighted to support JCT600 with our PayFrom Bank online payment capability. We both recognise the importance in making the online buying experience as simple, secure, and hassle-free for customers as possible.

“PayFrom Bank is one of a suite of APIs we have developed to help create friction-free customer journeys and streamline business processes.”