The Paypers

Ecospend’s pay-by-bank technology will enable Anglian Water to receive instant account-to-account payments, which will reduce the utility provider’s processing costs. The partnership will also enable a range of new payment functionalities for Anglian Water customers, including:

QR codes on all monthly invoices, enabling customers to set up a direct bank transfer, and pay their water bill instantly, by scanning the code;
Payment links on SMS to initiate a direct bank transfer, allowing customers to receive invoices via text messages and pay instantly from their phone;
A ‘pay by bank’ option on their website, app, and via My Anglian Water which will also allow customers to pay their water bill instantly through Ecospend’s ecommerce payments technology.

Currently, Anglian Water collects payments through various channels, including manual bank transfers and card payments. However, card transactions can prove expensive. This new payment process ensures an improved payment journey for customers, by leveraging the latest in payments technology.

All payments will bypass payment processing providers like Visa or Mastercard, resulting in an online payment that reportedly is a fraction of the cost of a card payment. Furthermore, every transaction is authorised by bank level security for a much more secure payment process, reducing the risk of fraud.

Ecospend, Anglian Water to offer Pay by Bank