Here at Vyne, our current banking connectivity is provided by Third Party Providers (TPP's) who aggregate the connectivity of the various banks we have on offer.
In particular, we make use of Token and Yapily Connect for bank connectivity. These TPPs play a role in the initiation of payments by identifying themselves as an FCA licensed Payment Initiation Service Provider (PISP) through presenting their own authentication certificates to your customer's bank when your customer makes a payment via Vyne. At no stage do these TPPs execute payments or come into possession of funds; their role is limited to technically enabling the set-up of the payment so your customer can complete authentication with their bank.
Where we use TPPs in this way, we are required by regulation to disclose the role of the TPP in question when the customer sets up a Vyne payment. However, we make every effort to ensure it is clear that your customer is paying your brand via Vyne and the TPP's role is to technically enable the payment only. It may be the case, however, that by default the TPP's name is shown either on your customer bank statement or within your API logs, given the input by the TPP.
As a licensed PISP, Vyne will also be rolling out its own bank certificates over time to replace those used by the TPPs. Where this is the case your customer will consent to Vyne setting up the payment, and the name of your own merchant account will continue to be displayed as the destination of the transfer when your customer completes authentication with their bank.
If you have any further questions regarding the use of Third Party Providers (TPP's), please don't hesitate to contact us.