Telsolutions signs pay-by-bank partnership with Ecospend
By Gloria Methri
UK-based Open Banking provider Ecospend has signed a partnership with multi-channel communication Telsolutions. Telsolutions specialises in revenue collections, working with local councils to support them in gathering council tax arrears, business arrears, and parking fines.
The partnership will see Ecospend’s Pay-by-Bank technology embedded into Telsolution’s collection messages, allowing customers to make instant payments directly from their bank. The move is aimed at ensuring customer protection against fraud whilst reducing the cost of transactions.
By selecting the link in the message, customers can confirm the payment details and amount through their banking app, enabling funds to instantly clear into the payee’s account.
This partnership will not only provide Telsolution’s clients with a safe method of payment, removing the chance of fraud and chargebacks, but will also allow them to bypass all fees associated with incumbent payment methods.
Rob Perry-Jones, CEO at Telsolutions, said, “Telsolutions Ltd selects innovative partners that provide new best-of-breed technology services that are effective out of the box. With Ecospend we have found a partner that is able to provide solid services for our clients in both local government and the private sector. We were able to address client needs for a secure and reliable alternative payment service that fitted perfectly around how customers now want to pay for goods and services using their banking apps.”
James Hickman, CCO at Ecospend said, “We are pleased to be working with Telsolutions and providing its customers with our industry-leading payment solutions that offer safer, and cheaper, ways to pay. This partnership is just the latest demonstration of the collections market turning to Open Banking services in the search for new and innovative products but is still just the beginning when it comes to the benefits these solutions can offer. We look forward to partnering with other industry members to make payments smoother, more efficient, and simpler for everyone.”
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