Ecospend partners with CDER Group to provide its Pay By Bank solution

By Joy Dumasia

Ecospend, the open banking technology provider, is proud to announce it is partnering with CDER Group, one of the UK’s foremost Enforcement and Debt Resolution companies, to provide its account-to-account ‘Pay-by-Bank’ solution. 

Collecting over £250m of unpaid Central and Local Government debt each year, CDER Group are using Ecospend’s ‘Pay-by-Bank’ solution to provide an additional, easy-to-use, secure payment channel via the customers own mobile or online banking service without the need to share personal information or card data. 

CDER Group will use this platform to receive direct payments from customers with every transaction authorised by bank-level security, thus enabling a more secure payment process, further reducing the risk of fraud.

James Hickman, CCO, Ecospend, said: “We’re delighted to have partnered with CDER Group. To be rolling out Pay-by-Bank with such an important market leader in the debt recovery sector is another great step forward for Ecospend. The benefits of our account-to-account payments are clear for CDER Group, and they can now offer customers another easy-to-use payment solution that transfers funds instantly, does not require entry or transmission of personal data or card information and will significantly reduce payment transaction costs. We’re excited to get started on building another gold standard open banking use case that will demonstrate the value of this technology.”

Nick Tubbs, CEO, CDER group, said: “We are pleased that our partnership with Ecospend has enabled us to further expand our payment options to customers and that this provides them with such an easy-to-use, highly secure and convenient payment method requiring no card or personal details to be entered.”

IBS Intelligence also reported that Paylink Solutions has partnered with online banking provider, Ecospend, to allow customers who’ve fallen behind with repayment plans to make instant payments and get back on track with their arrangements.