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Ordo, reshaping payments with Open Banking, enabling low cost, real-time transactions across the UK

960 640 Guest Contributor

By Ordo

In March, the World Health Organisation (WHO) proposed contactless payments as a countermeasure of COVID-19. The effect is the ever-faster rise of digital payments on web platforms and mobile apps. Digital and contactless payments have seen an increase in usage by more than 50%, and experts are claiming that these new forms of payments are here to stay.

Are you ready to switch for the best alternative in the market?

With the further lockdowns becoming more widespread and threatening everyone’s Christmas, we’re offering three tangible reasons to start using Ordo today. 

1. Saving 90% or more on each transaction: it’s true.

If you’re still using card payment processors, you are likely to be paying high fees: around 2-4%. That means that every time you make a sale of £200, you could be paying around £4 – £8 in transaction fees; that’s the cost of a lunch, every time you process a payment. Why not save all these lunches for yourself and your loved ones instead?

Using Open Banking technology (ed. it helps securely and safely move, manage and make more of your money), Ordo can process your payments at a fraction of the cost (20p as a single flat fee, no matter the amount). Learn more 

2. Real-time payments: it’s like cash, but safer.

With widespread concerns about delayed or cancelled orders, businesses are experiencing a high volume of cancelled transactions. Card return and chargeback volumes are starting to see significant jumps which can become a key concern for many companies. Ordo can help your company at no extra cost – when you receive payments through Ordo, they are irrevocable, it’s just like you’ve paid cash into your bank account, nobody can take them back again. Plus, all the Ordo payments will hit your bank account in real-time, as soon as your customer has paid, 24/7, no matter what.  As cashflow becomes tighter, every single payment will count even more, and Ordo could be the partner you were looking for.

3. Reconciling: stop wasting time!

A recent survey showed businesses spend nearly 10 hours per week on payments admin. Now more than ever that is time you need to spend on driving your business. With Ordo you include a reference with your payment request that means something to you and that will always appear on your bank statement with the payment, exactly as you entered it. This reference can also link back the payment to accounts software like Quickbooks, Sage, or Xero. Also with these accounting packages you need to spend even less time doing payments admin, as Ordo will create your payment requests directly from the customer and transaction information you’ve entered into your accounts, including the invoice. Learn more

The change is here: more payments security for you and your customers.

Even if you’ve avoided the costs of card payments, are you exposing yourself and your customers to fraud by just using stand-alone bank transfers?. Common scams emerging include impersonating as relevant authorities and financial institutions to demand payments from unsuspecting consumers, and fraudsters hacking into emails and changing account numbers on invoices to their own. Where you can’t be sure of the owner of the account you’re sending money to, the result is an increase in fraud – to the tune of £451m in 2019 alone, with £114 million of that being invoice frauds.  

With Ordo you are taking positive actions now while there’s still time to avoid the embarrassment, the damaging headlines, the explaining, the compensation and the rebuilding of your business, customer base and reputation you’ll need to do if you just hope that you and your customers will be lucky.  Ordo has been designed and built with privacy and security as part of its DNA. It protects all you and your customer’s data at all times using the latest security techniques and messages go across our own secure channels to and from banks. This means that the whole communication is secure and less vulnerable to hacking and fraud.

What about your customers: are they ready to switch?

We’ve all lost things in 2020, for some it’s been deeply personal, for others it’s been equally as dramatic in other ways finding their jobs gone, the loss of childcare and teaching has meant trying to do two full time jobs at the same time along with the pressure of re-learning algebra; support networks have gone virtual and our freedom has been curtailed with the need to remember your mask if you just want to pop to the shop, or the chore of booking in advance whether you want to go for a quick drink or a swim. 

The things that we once did freely have become complicated and everyone has some kind of trouble on their mind.

Ordo makes it easy and convenient for your customers to pay you, within just a few taps from their phones, all secured by their own bank. 

Your clients can tap and pay without the need to register, find paper bills, login to portals with memorable information they instantly forgot, or look up references to ensure payments get credited against their account with you. You make it as easy as possible for them to pay you meaning you are at the top of their to-do list. Learn more

How we could help you

Ordo is the payment solution you cannot afford to be without. We are regulated by the FCA (FRN 836070). Nationwide Building Society is an investor, and along with CGI and AND.Digital partners, it will make your billing and payments easier.

Its free to trial, for smaller businesses can be used independently and with QuickBooks, Sage or Xero. For larger businesses Ordo can be integrated with any systems with our simple suite of APIs and robotic automation tools.

You can learn more, book a demo or signup here.

www.OrdoHQ.com

‘Smart window poster’ allows contactless donations on High Street

960 640 Stuart O'Brien

A ‘smart window poster’ which allows contactless donations to be made to the homeless has been installed for the first time on a British high street.

The contactless technology is being trialled at Nationwide’s Union Street branch in Bath, Somerset – which could revolutionise charitable donations.

Each tap donates £3 directly to homeless people in the area, with users being able to tap multiple times per visit.

The trial, which raised £400 in the first week, comes as the building society continues to invest millions in branches up and down the country to support communities.

It is hoped the initiative will make it easier for people to donate money, in addition to instilling confidence in those who feel uncomfortable giving cash directly to homeless people.

The ‘Good Start Tap to Donate’ scheme, which is managed by local homeless charity Julian House, was developed with Nationwide Building Society and Bath Business Improvement District.

All money raised will go towards the Julian House Good Start fund, which will help improve and eradicate homelessness in Bath and North East Somerset.

Nationwide branch manager Stephanie Pritchard said: “At a time when many people don’t have spare change or may not wish to hand it directly to someone who is homeless, having a contactless point in the window of the branch has bridged the gap. This novel way of raising money for a fantastic cause is a great example of how technology is playing a role in helping society, one tap at a time.”

As a payment method, contactless usage continues to rapidly rise. During 2018 the number of contactless payments made in the UK increased by 31 per cent, to 7.4 billion payments, according to a UK Finance report.

Other charities and not-for-profit organisations, including The Big Issue, have also recently turned to contactless payments as a way of securing revenue.

Roanne Wootten, operations director for Julian House, said: “Tapping could fund welcome packs, which include toiletries and sanitary products in crisis accommodation, new bedding and essentials when moving into supported housing, a birth certificate, a passport or a driving licence. Fundamentally it is about the person and what they need to help them to come off the streets – it will be different for everyone.”