Paymentology teams up with Utility Warehouse to boost cashback card transactions

By Megha Bhattacharya

Cloud-based payment processing platform, Paymentology announced that Utility Warehouse (UW) has selected the former for processing cashback card transactions. UW’s customers will be able to benefit from cashback provided by online and high-street retailers that are automatically offset against their monthly utility bills.

Ben Wigoder, Head of Financial Services at UW, said, “After an extensive process, Paymentology emerged as the clear leader to take on our cashback card. Its fraud protection service adds another layer of security for our customers, and its technology gives us a platform to build new features into our card in the future. We’re excited to begin our partnership with Paymentology and look forward to working together in the future.”

Paymentology’s functionality is expected to enable UW’s customers to benefit from fraud protection and split-second balance checking at the point of sale, thus clearing purchases almost instantly.

UK-based multiservice provider, UW offers customers all their home services – energy, broadband, mobile, landline, and home insurance – in one monthly bill. These customers can choose to receive a cashback card, which helps them save while they spend as well as benefiting from reward points as they spend with partner retailers. Customers can get up to 7% off their purchases.

Shane O’Hara, CEO of Paymentology, commented, “Working with UW is an important step for us in our growth as we expand the reach of the Paymentology platform across both banks and retailers. Moreover, though, it is a good opportunity for Paymentology to play its part in helping consumers manage their budgets in these difficult coronavirus times.”

Recently, Paymentology announced a partnership with Finartex FinTech Solutions S.A. in a bid to deliver data-powered and scalable issuing payment solutions to financial institutions in Greece, Cyprus. South-Eastern Europe, Eastern Africa, Belgium, and Luxembourg.