Hmrc becomes the first tax authority in the world to launch open banking payments

HMRC, with support from Capgemini, develops a “Pay by bank account” service, enabling individuals and businesses to pay taxes directly from their own accounts to HMRC, eliminating costly card charges

Client Challenge:

HMRC wanted to improve the certainty of arrival, security, and cost efficiency of tax payments made by UK consumers and businesses

Solution:

Capgemini worked with HMRC and its other suppliers to deliver the world’s first public sector Open Banking payment initiation system, enabling payments to be made directly from bank payment accounts to payee bank accounts without the use of cards

Benefits:

• Greater certainty, convenience, and peace of mind for taxpayers
• Significant cost savings for HMRC through the elimination of card payment charges
• Efficiency and productivity improvements
• Major reduction in payment misallocation