Open banking payment provider Echopay is offering reduced payment costs to the foodservice channel, with wholesalers seeing customer interest increase since partnering with the provider.
DIBS Distribution sales director David Payne explained how the wholesaler has achieved a reduction in costs after using Echopay for its orders, which can exceed 1,000 per week. “We have Echopay embedded into our app as a payment method, and we’ve seen customer interest increase rapidly since launch and we’re benefiting from an easier solution, alongside cost savings.”
The open banking solution is said to enable wholesalers to process payments quickly from their customers using secure, encrypted channels. The technology also helps to prevent fraud and telesales staff benefit from a simpler payments process, which helps eliminate human error and therefore offer a better service.
Read more: Echopay partnership predicted to create £1m in savings for Unitas membership
Echopay also allows payments to be taken using a mobile via web links sent via their preferred communication method, such as email or Whatsapp. Furthermore, payments can be processed face to face, either in depot or at the point of delivery, using handheld Clover terminals. These terminals generate a unique QR code, which can be scanned by a customers’ mobile, where they can pay via a wholesaler-branded mobile-first website.
N and B Foods director Vivek Odedra, said: “We have been using EchoPay for eight months and it has really improved how we get paid. Our customers love it too as they can pay from their phone with a couple of taps on the screen. The email notifications are useful to us as we know instantly when we are paid out of normal working hours, especially at weekends.”
Allan Dursun, director of Fresco Foodservice added: “Our website has EchoPay integrated as the default payment method. As a catering wholesaler delivering hundreds of orders a week, the ability that EchoPay gives us to get paid instantly 24 hours a day has really made our lives easier.”
James Ward, EchoPay founder, who held senior positions at wholesalers including AC Ward & Son and Forward Wholesale, said: “We’re proud to be supporting the fast-moving and dynamic foodservice wholesale channel with a market-leading open banking system that improves customer experience and reduces costs.
“Underpinned by Token.io’s connectivity infrastructure for account-to-account payments, EchoPay offers a secure service that protects businesses from fraud and human error. We encourage any foodservice wholesaler who is interested in open banking payments to get in touch.”
