Lloyds has teamed up with hospitality technology specialist Lolly on a Pay by Bank system for self-service kiosks.
The systems lets customers make direct, secure bank-to-bank payments from a self-service kiosk, removing the need for card transactions and delivering instant settlement for businesses.
Customers select ‘Pay by Bank’ at checkout, scan a QR code, and complete payment through their mobile banking app. Funds are transferred directly to the retailer’s account in real time, offering faster transactions and reduced processing fees, says Lolly.
Mark Prayel, product and platform embedded payments, Lloyds, says: "We’ve had a lot of fun trialling Pay by Bank in our own head office cafeteria with colleagues, and we’re looking forward to seeing how this innovation evolves across the wider hospitality and retail space."