Yes. Payments that using Open Banking are very secure. Probably the most important thing for customers to understand is that at no point in the process of authorising a payment transfer are any of your bank login credentials shared. They are not shared with Marygold, they are not shared with Moneyhub, they are not shared with anyone. This is one of the core pillars of security inherent in the Open Banking architecture (for more details on security please see this article). In addition, if you'd like to learn more about the specific security policies of Moneyhub, click here).
Conceptually open banking payments work very differently to other payment methods like card payments. With card payments you are given a payment card, and when you pay you hand these card details (digitally) to the seller (or more likely the seller's payment processor), and authorise them to take money from your current account.
Open banking turns this process upside down.
With open banking, the person receiving the money must share their account details with the payer, then the payer (through open banking) loads these payment details into their bank app, then authorises a 'push' payment from their current account to the recipient. This is a much more logical way to pay.
For me2me transfers using Marygold there is an extra layer of comfort for our customers as we only allow for bank transfers between your accounts (hence 'me2me®').