Open banking delivered by Ecommpay brings 17% increase in payments settled on time for bill management innovator – Bill.me
Working with inclusive global payments platform, Ecommpay, bill management provider, Bill.me has seen on-time payments rise 17% in just three months as a result of adding open banking as a payment option. Across Europe, Bill.me enables its 200,000+ users to receive and manage recurring bills from more than 300 companies and pay multiple bills in a single transaction. The addition of open banking as a payment option has been quickly embraced by Bill.me users, with around 70% of payments now made through open banking in countries where it is available.
Bill.me customers have been paying their bills by card using payment functionality delivered through Ecommpay since 2017. The addition of open banking as a payment option has allowed customers another secure and reliable payment option, and lower processing costs for the business. Customers can now pay directly through any of the major local banks used across Bill.me markets.
The new option allows customers to pay directly through their bank, with their identity verified using Strong Customer Authentication. Secure bank APIs, encrypted data transmission, user consent controls and real-time fraud monitoring help protect each transaction while supporting Bill.me’s security and compliance requirements.
For Bill.me, open banking was not simply another button on the payment page. It offered a way to reduce payment costs compared with card transactions, encourage more people to pay through the app and create a stronger foundation for future growth.
“As we look to enter new territories, the international coverage and scalability Ecommpay offers is critical,” explained Andrey Nemchikov, Chief Operating Officer of Bill.me. “We built Bill.me to make it easier to pay bills, to provide everyone with access to convenient and modern bill management capabilities, and the addition of open banking means it is now easier and more accessible than ever. Ecommpay supports the local banking options our users expect and since launching the additional payment option we have seen an increase payment activity, helping us to deliver greater value to our service-provider partners and future-proof our app.”
“To make its payment experience even stronger, Bill.me wanted to give users more choice while supporting greater payment activity and continued commercial growth,” added Roy Blokker, Head of Strategic Sales at Ecommpay. “Our team worked closely with Bill.me to ensure our open banking solution met their needs and those of their customers. We continue that collaboration to develop the solution as new capabilities become available in future.”
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