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Pay-by-bank with EchoPay

Made by EchoPay

EchoPay: enabling your customers to pay directly into your bank account

  • Give your customers a greater choice on how to pay with Pay-by-bank
  • Pay-by-bank: powered by banks, enabled by open banking, regulated by the FCA – so you can be sure your money is in safe hands
  • Get paid immediately, no chargebacks
  • Cheaper than accepting cards

With Pay-by-bank get smart and be part of the new way to pay

Pay-by-bank or account-to-account payments enabled by open banking (PSD2) regulations is growing rapidly.  There are now over 4.5 million regular users of open banking – 3.9 million consumers and 600,000 small businesses – and in September 2022 there were over 6 million open banking payments.

And there are compelling reasons why merchants are adopting pay-by-bank including:

  • Allow your customers to pay you directly from their bank account which means you get paid immediately - no more waiting up to 5 days for your money from your current card provider
  • Been hit by card chargebacks?  Pay-by-bank allows you to take back control of customer refunds in-line with your own terms and conditions
  • By using pay-by-bank its likely you will reduce your payment transaction fees especially for high value items.  EchoPay will tailor the charges to your business to ensure you get a good deal
  • Or perhaps you have been turned down by a card acquirer, have been asked for an unreasonable amount of security, or your card acceptance rates have been inflated to reflect the perceived level of risk.  The good news is that pay-by-bank provides a clear alternative
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Worried about safety? You don’t need to be. EchoPay is not in the flow of funds. The payment is directly from your customer’s bank to yours. In addition, no bank details are ever shared so your customers personal details are safe.

EchoPay uses a market leading open banking infrastructure provider so you can be confident that your customers’ bank will be a fully enabled member of the open banking community.

Also to minimise cart abandonment EchoPay will customise the pay-by-bank payment page with your branding so your customer will be confident that it is you that they are paying, and finally you will be provided with a dashboard so you can monitor your payments anytime from anywhere.

Get started today by downloading the EchoPay App and contacting EchoPay to get set up with an open banking account.

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Made by EchoPay

Contact developer at support@echopay.co.uk

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