18th March 2022.
We’ve partnered with pay-by-bank provider, Ecospend, to allow customers who’ve fallen behind with repayment plans to make instant payments and get back on track with their arrangements.
Customers will be sent a link for them to make the previously failed payments, either over the phone with an agent or online at a time that suits them.
‘Pay by bank’ provide an alternative option to card payments and move money from people’s bank accounts in real-time. All customers need to do is log into their online banking, authorise the transaction using secure biometrics and their payments will be taken straight away.
Susan Rann, our CEO, said: “This type of payment particularly benefits financially vulnerable people as their funds are instantly moved, which allows them to budget and manage their money more effectively.”
James Hickman, COO at Ecospend, comments: “We’re delighted to be working with Paylink Solutions to help their customers make payments quickly and easily. It’s a great opportunity for us to deliver the latest advancements in payment innovation that will make payments more convenient for customers, while removing any additional stress and cutting the cost of payment fees.”
Rann continued: “Open banking has helped to limit the impact of the current downturn by providing new experiences, helping customers manage debt, adjust budgets, and make full use of new government initiatives. We’re excited about enhancing our digital affordability software – and being able to support clients and their customers even more.”
Hickman concluded: “We believe the efficiencies that our account-to-account payments match perfectly with the needs and goals of Paylink Solutions and its customers.”
Find out more about how Paylink Solutions can benefit your business here.
