Online payment company Ordo has partnered with business consultant CGI to improve transparency of transactions and increasing protections from fraud.
The new platform from Ordo was built by CGI and aims to let billers receive money immediately through electronic invoices. Its focus to helping those with a non-direct debit customer base, giving them a cost-effective alternative to traditional card and paper bill processing.
Its platform aims to begin dialogue with customers, giving the biller the ability to accept part payments or deferred payments. This will give greater flexibility for both sides. Billers will be able to avoid cash flow issues, while customers will have better controls on their transactions.
By leveraging Open Banking payment standards, the solution includes end-to-end encryption to ensure no information is sent during a payment process. This makes transactions safer and increases user protection against authorised push payment fraud.
The Ordo solution will launch later in the year and will be deployed to B2C, B2B and P2P markets.
This partnership comes shortly after Ordo received an undisclosed investment from Nationwide’s £50M venture fund.
CGI senior vice president, UK financial services Neil Sadler said, “CGI is excited to be working with Ordo to change the face of payments for businesses and consumers.
“The removal of friction in the billing process will not only allow billers to make financial savings, but will also allow for greater cash flow visability and control for customers, all in a more secure environment. As Open Banking develops, we’re pleased to be at the forefront of this, supporting businesses like Ordo in bringing new services into the market.”
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