BB Merchant Services , a payment processing and banking consultancy, has announced a strategic collaboration with Ordo , focusing on minimising merchant costs and increasing Open Banking advancement. As part of their collaboration, BB Merchant Services and Ordo intend to equip businesses with an alternative offering as they face issues regarding rising payment processing costs, maintaining margins, service standards, and fraud prevention. Through the Pay by Bank solution, the two companies plan to provide users with real-time bank transfers that bypass intermediaries, while also assisting them in minimising fees and ensuring secure, instant fund settlement.

When it comes to payers, they can select their bank at checkout and authorise the transaction through Strong Customer Authentication. Additionally, they are not required to enter any card details, sort codes, or account numbers, as well as no app downloads are needed. BB Merchant Services and Ordo’s partnership objectives By teaming up, BB Merchant Services and Ordo centre their efforts on augmenting efficiency and modernising the traditional payment process, assisting businesses in staying competitive and adapting to technological advancements.

Merging their capabilities is set to offer a cost-effective payment solution that identifies and mitigates unfair card fees and provides a secure, simplified experience for users. Also, the partnership includes support, such as education, integration assistance, and a focus on security, which plans to ensure an optimal transition to these payment solutions. When commenting on the announcement, representatives from Ordo underlined that working with BB Merchant Services allows their company to support businesses in utilising Open Banking to achieve substantial cost reductions in payment processing, while also benefiting from increased security and efficiency. In addition, BB Merchant Services’ officials mentioned their firm’s plans to continue to expand how clients minimise payment processing costs and access a more optimised, customer-friendly payment solution. Furthermore, the alliance between Ordo and BB Merchant Services works towards overall augmenting payment services by supporting merchants in leveraging the full benefits of Open Banking.

The two companies intend to assist businesses in solidifying their position in an ever-evolving marketplace while also advancing and optimising their operations. .