Everyware Teams With MX to Offer Pay By Text for Real-Time Payments and Open Banking

Contactless payments firm Everyware on Tuesday (May 3) expanded its Pay By Text options to include real-time payments and open banking, along with enhanced security options, through its partnership with open finance platform MX to bring about better digital access to financial information.

The partnership gives direct access to share electronic payment information instantly and at any time of day, creating a two-way information exchange between personal financial data and connected services when paired with open banking, according to a press release.

There were more than 70.3 billion real-time payments transactions around the world in 2020, up 41% from the previous year, according to ACI Worldwide.

“We are the only contactless payments company to deliver the RTP payment option and offer RTP payments to remove a significant level of risk with verified accounts and sufficient balance checks,” Everyware founder and CEO Larry Talley said in the release. “Together with MX, we’re enabling a convenient, instant, and secure payment experience for our customers.”

With the Everyware and MX integration, merchants can send secure invoices by text message, which can be paid through an MX-verified bank account containing a confirmed account balance sufficient to cover the payment amount. MX also enables customers to look up and connect their bank accounts without having to leave the payment screen.

“Everyware is a great example of how a seamless account connecting user experience can be powered with our open finance platform,” said Brett Allred, MX’s chief product officer. “Open Banking involves building a more connected, frictionless, and secure financial ecosystem and we’re proud to team up with Everyware in that mission.”

In October, Everyware helped buy now, pay later (BNPL) company Opy USA, Inc. launch a Pay by Text BNPL solution through its platform, Openpay Pty Ltd.

Related: Opy USA, Everyware to Offer BNPL by Text

Opy incorporated its BNPL product offering within the Everyware platform to deliver text message payment options to consumers. Opy offers installment payments of up to 24 months and limits of up to $20,000, and the company serves several industries, including automotive, healthcare, home improvement, memberships and education.