Can I trust the YowPay service?
Yow (which publishes the YowPay service) is a company registered in Monaco.
YowPay is not involved in the monetary exchange between a customer and the beneficiary. The transfer is made by a bank-to-bank transfer, fully secured by the banks themselves.
Concerning the Open Banking access on the beneficiary accounts, YowPay has a read-only access of course (balance and list of transactions) and can in no case perform transactions for you.
This Open Banking access is managed by a specialised service provider under European licence, the only ones authorised to access customer account data.
Moreover, YowPay does not store the collected data but only reconciles the transactions made via YowPay and the issuance of a QR code.
How is my data secured?
No bank details are transmitted through YowPay. Transfers are made from bank to bank.
We simply store the beneficiary's IBAN and account information in a secure database to generate the payment QR codes and also to manage the Open Banking connection.